“We will increase our reserves through steady / strong capital inflows and dedolarization in residents through foreign exchange buying auctions” Author Reuters


© Reuters.

ANKARA, February 9 (Reuters) – Central Bank (CBRT) Governor Naci Ağbal’s key messages from his speech at the investor meetings that started today and will continue tomorrow are as follows:

  • As the Central Bank, it is our most important and indispensable duty to ensure permanent price stability.
  • We will continue to decisively implement our monetary policy framework that will serve this purpose with the steps we take and will take.
  • Tight monetary policy and tightening financial conditions will lead to a more moderate level of economic activity through the demand channel.
  • Predictability and tight stance will contribute to a downward trend in inflation, a decrease in the country’s risk premium, encouragement of TL savings, the start of reverse currency substitution, an increase in reserves and a permanent decline in financing costs.
  • All decisions will be taken with the priority of price stability. Price stability is the basis of financial and macroeconomic stability.
  • Until 2023, we will maintain the monetary policy with a tight stance, in other words, with a monetary policy set that will have a strong disinflationary effect, until we achieve the 5 percent target.
  • With the stabilization of capital inflows and the reversal of the dollarization trend of residents, we will increase our reserves through foreign exchange buying auctions. When the conditions are met, we will share our plan for this with the public in an open and transparent manner.
  • We believe that the participation of all stakeholders, coordination and a holistic approach to the disinflation and price stability process are necessary.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Check Also

Growth in Germany’s economy fell short of expectations in the second quarter By Foreks

© Reuters. MARKET OVERVIEW-Growth in the German economy fell short of expectations in the second …

Leave a Reply

Your email address will not be published. Required fields are marked *