Recent economic and financial developments in Turkey
27 July 2023 · Hafize Gaye Erkan , Governor of the Central Bank of the Republic of Türkiye (Türkiye)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates , inflation and price stability , banking regulation and supervision , development and emerging economies
HG 27 Jul 2023 · Hafize Gaye Erkan Wiki · Central Bank of the Republic of Türkiye Wiki Recent economic and financial developments in Turkey Context Press briefing in Ankara presenting the third quarterly Inflation Report of 2023, soon after a policy U-turn; the Central Bank of the Republic of Türkiye is tightening to fight very high inflation.
Why it matters Erkan presents the outlook weeks after Ankara abandoned unorthodox easing.
Problems raised Inflation in Turkey is very high. Market mechanisms were distorted. Inflation expectations are unanchored. Solutions proposed Tighten monetary policy gradually as needed. Simplify the macroprudential framework. Align market rates with inflation expectations. Read full speech on bis.org ↗ More from Hafize Gaye Erkan · Central Bank of the Republic of Türkiye · all speeches
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