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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: inflation and price stability, 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 third quarterly Inflation Report of 2024; the Central Bank of the Republic of Türkiye fights very high inflation through tight policy.

Why it mattersThe Turkish governor maintains tight policy as monthly inflation slows only gradually.

Problems raised
  1. Services inflation is sticky.
  2. Inflation remains high.
  3. Disinflation needs time.
Solutions proposed
  1. Maintain tight policy.
  2. Target a sustained fall in monthly underlying inflation.
  3. Reduce inflation further in 2025.
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