President of Turkey’s Central Bank says inflation expected to converge to targets

Turkey has received good news from Mr. Murat CETINKAYA, the Governor of Central Bank. The Governor has made a statement saying “With the contribution of coordinated measures taken, it is expected that inflation will gradually converge to the targets. We will continue to use monetary policy instruments effectively in line with price stability“.

In his statement CETINKAYA also noted that the tendency towards the stabilization in the economy had become evident.

Emphasizing that the economic activity had slowed down due to the tightening in financial conditions and weak domestic demand, CETINKAYA mentioned that foreign demand had continued to remain strong.

The Governor added that the inflation was expected to converge to the targets gradually”.