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22-03-21
Central Bank of Turkey to use monetary policy to achieve permanent decline in inflation
(MENAFN)According to its new governor, the Central Bank of the Republic of Turkey (CBRT) is going to use financial policy tools effectively to attain a permanent decrease in inflation.
Sahap Kavcioglu also declared that “The decline in inflation will foster macroeconomic stability through the fall in country risk premiums and a permanent improvement in financing costs, and will contribute to the development of conditions essential for sustainable growth that will enhance investment, production, exports and employment.”
A former parliamentarian, Kavcioglu, was selected as head of the CBRT following the removal from office of Naci Agbal in the early hours on Saturday.
Kavcioglu further stated that “In line with the transparency and predictability principles in policies, communication channels will be used effectively to address all stakeholders,” saying that assemblies of the Monetary Policy Committee will carried on as planned.
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