Experts say it is the duty of Turkey’s Central Bank to fight inflation

Experts state that inflation is the number one problem of Turkey and emphasize that this struggle should be done entirely by the Central Bank. They say that the work to be carried out by the CBRT will be much more efficient provided it can be done “free of political climate”.

It is often observed that the authority in possession of political power directs harsh criticism towards the bank which naturally brings to mind the question “Is the Central Bank able to perform to its full capability or does it feel itself under heavy political pressure leading to low performance?. This is a question on the agenda of the business world, nowadays as well.

The number one problem of Turkey in terms of macroeconomic stability is certainly inflation and this struggle should be done by the Central Bank. In fact, it is among the main duties of the bank. The critical point is the Central Bank should be able to accomplish its mission in an independent manner. It should be able to decide about if interest rates should be decreased or increase and implement required monetary policies as due, free of any political pressure on it.

It is then that the technical tools to be applied by economy experts will yield positive results in the fight against inflation and the economy will take a deep breathe.