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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 fourth 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 keeps policy tight as services inflation proves sticky.

Problems raised
  1. Services inflation is sticky.
  2. Risk premia were high.
  3. Monthly inflation remains elevated.
Solutions proposed
  1. Keep policy tight.
  2. Seek a sustained fall in underlying inflation.
  3. Benefit from improved risk sentiment.
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