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CBRT Say Tightening to Continue as Much as Needed

TURKEY
Highlights from the policy statement:
  • The Committee decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior.
  • Monetary tightening will be further strengthened as much as needed in a timely and gradual manner until a significant improvement in the inflation outlook is achieved.
  • To increase the functionality of market mechanisms and strengthen macro financial stability, the Committee will continue to simplify and improve the existing micro- and macroprudential framework.
  • However, given the monetary tightening stance, the Committee still anticipates that disinflation will be established in 2024 in line with the Report.

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