CBRT President Karahan: Our Tight Monetary Policy Will Continue

Statement on Tight Monetary Policy from TCMB

The President of the Central Bank of the Republic of Turkey (CBRT), Fatih Karahan, made significant statements at the Atlantic Council Panel held in Washington. Karahan stated that they would maintain a tight monetary policy until inflation reaches the target of 5%.

Downward Movement in Inflation

Karahan highlighted that the CBRT has taken steps towards monetary tightening and that there has been a noticeable downward movement in inflation since this period. However, he emphasized that this movement has somewhat slowed down recently. “The inflation rate is significantly above our medium-term target of 5%; but we are determined on the path of progress. We will continue to implement our current program until we reach the 5% target,” he said.

Process Continues

Karahan reiterated that they are closely monitoring the situation regarding inflation and confirmed the CBRT's determination to achieve its targets. The steps taken for economic stability are considered a critical process for investors.