At the meeting held by the Central Bank of the Republic of Turkey (CBRT) with investors expectation of early relaxationMessages indicating that it is not suitable have appeared.
During the meeting, CBRT chairman ahap Kavcıoğlu stressed that the expectation of a rapid easing of monetary policy should be eliminated.
President Kavcıoğlu summarized as follows;
“Economic activity continued to gain momentum.
Tight monetary policy is necessary for domestic demand and credit growth to rebalance the economy.
Until the 5% inflation target is reached, the policy rate will be higher than realized and expected inflation.
A significant drop in inflation will be like the end of the third quarter, the start of the fourth quarter.
We will maintain the simplified operational monetary policy framework.
The expectation of early market easing should disappear.
The Central Bank depends on the objective of price stability. “
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