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CBRT Governor Reiterates Pace of Tightening to Slow Down

TURKEY

The time to shift to TRY has arrived, CBRT Governor Hafize Gaye Erkan said at an event organised by the Istanbul Chamber of Industry on Wednesday. The following comments are taken via BBG:

  • Central bank to make FX reserve increase a “permanent one.”
  • Deceleration in CPI and PPI will start to be felt as of 2Q 2024.
  • Erkan cites “positive developments” in pricing behavior.
  • “It’s very important to have disinflation as priority.”
  • It’s wrong to assume disinflation can only be attained by sacrificing from economic growth.
  • Central bank to slow down tightening pace.

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