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CBRT to Continue to Gradually Tighten MonPol

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 the inflation outlook is achieved.
  • The Committee anticipates that tax regulations and the deterioration in pricing behavior will put further pressure on inflation.
  • The Committee will continue to simplify and improve the existing micro- and macroprudential framework. Guided by impact analyses, the simplification process will continue to be gradual.
  • In addition to the increase in the policy rate, the Committee has made decisions on quantitative tightening and selective credit tightening to support the monetary policy stance.

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