Free Trial

CBRT Reiterate Tightening Will Be Further Strengthened as Much as Needed

TURKEY

Highlights from the policy statement:

  • Monetary tightening will be further strengthened as much as needed in a timely and gradual manner until a significant improvement in inflation outlook is achieved.
  • In this framework, while the year-end inflation is projected to be close to the upper bound of the forecast range provided in the Inflation Report, it is also evaluated that the underlying trend in monthly inflation is on course to decline.
  • On the other hand, geopolitical developments pose risks to the inflation outlook due to oil prices.
  • Monetary transmission mechanism will be further strengthened by taking additional steps to increase the share of Turkish lira deposits.
  • The Committee will continue to make decisions on quantitative tightening and selective credit tightening to support the monetary policy stance.

Click here to see the full statement.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.