President of The Central Bank of Turkey: “Strict stance will continue”

CETINKAYA, the President of the Central Bank of Turkey who made a presentation in the meeting held with the bankers stressed that the risks regarding pricing behaviors were still important. The President of the Central Bank stressed that the tight monetary policy stance would continue until a significant improvement in the inflation outlook was achieved.

The President delivered following messages at the meeting with the members of the Turkish Banking Association and Turkey Participation Banks Association;

– Upward revision of global economic growth estimates and volatility that maintains low levels support risk appetite.

– The recently announced data suggest that the recovery in economic activity is strengthening.

– Despite the cost-related developments that have taken place over the past few months and the limited impact of the expected partial correction in food prices, the risks of price behavior remain significant.

– Financial conditions support economic activity.

– The Central Bank will continue to use all the instruments at its disposal in line with the main objective of price stability.

– The tight monetary policy stance will continue until there is a significant improvement in the inflation outlook. “

SOURCE: MEDIA