Governor Naci Agbal says main task of Central Bank is to ensure price stability

Naci AGBAL, president of the Central Bank of the Republic of Turkey has made a statement saying the most important priority of the Central bank is to achieve the goal of price stability by implementing a trustworthy monetary policy in a consistent manner.

Regarding the issue the Governor also shared following:

“Trust, the only element that holds society together, is also the basis of a strong economy. In a stable/predictable economy, expectations improves, investment and employment increase, and society prosper. Confidence is also important for central banks which are one of the main institutions of economic management. It becomes more effective when monetary policy is trusted, its power to improve expectations increases. Within this framework, the first step that a central bank should take to achieve its goal is to ensure that economic actors trust monetary policy. A central bank that has successfully fulfilled its mandate opens the door to a stable and productive economy. In short, a monetary policy that gives confidence and focuses on price stability is one of the keys to social prosperity in the long term. As the Central Bank of the Republic of Turkey, our most important priority is to ensure price stability, which is our main task, and to make it permanent.