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Recent economic and financial developments in Turkey

· Fatih Karahan, 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, trade, fragmentation and geopolitics, development and emerging economies

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· Fatih Karahan Wiki · Central Bank of the Republic of Türkiye WikiRecent economic and financial developments in Turkey

ContextPress briefing in Ankara presenting the first quarterly Inflation Report of 2024; the Central Bank of the Republic of Türkiye fights very high inflation through tight policy.

Why it mattersKarahan holds rates while rebuilding reserves.

Problems raised
  1. Inflation is very high.
  2. Geopolitical risks escalate.
  3. Expectations are above forecast.
Solutions proposed
  1. Hold the policy rate until inflation falls clearly.
  2. Rebuild international reserves.
  3. Improve risk indicators.
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