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  • 13-09-22

    Turkish Central Bank applies firm policy to guarantee increasing interest in Turkish lira

    (MENAFN) The Turkish Central Bank is applying a firm policy to guarantee a constantly increasing interest in the Turkish lira, as stated by the bank’s governor on Monday.

    Turkey lately began to force the new Turkish financial model that highlights maintainable expansion by reaching lasting price stability via investment, employment, production as well as shipments, Sahap Kavcioglu stated in an article labeled "Liraization Strategy" on the bank's blog.

    He highlighted that "The liraization strategy implemented by the Bank is one of the key elements of this model."

    With this, he stated that the bank has been concentrating on enduring improvements that are going to guarantee maintainable price constancy within the outline of free market dynamics.

    He published that "While designing its monetary policy decisions, the Bank is confronted with the Turkish economy’s structural problems, particularly regarding a sustainable external balance."

    He also underlined that "In this process, instead of easy but temporary solutions, it focuses on permanent long-term solutions despite the difficulties in the short and medium term."

    also stating that this process "is also a challenge to a structural problem that has remained unresolved despite many years of efforts."

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