Although some concerns remain, central Turkey bank Don’t expect stagnation in Inflation sees it coming down with a drop in Its governor said Thursday the prices of commodities and energy.
address meeting with Investors, Şahap Kavcıoğlu also . said bank He monitors the risks he is exposed to current Account balance due to rising energy prices amid conflict in Ukraine, two meetings participants He said.
The government was supported new economic program Based on on low interest rate higher Production and exports to achieve a current Account surplus.
However, the plan faces pressure due to rising commodity prices and possible He falls for Tourism revenue due to the war.
at call with Investors and economists, Kavcioglu said the risks to tourism income caused by the conflict, can be managed at the meeting participants to Reuters.
before Russia invasion of ukraine a month ago, people who are you countries make up about 30% of Foreign arrivals to Turkey while they are also pioneer trade And the defense partners.
Since then, Turkey’s exports to Russia have halved and exports to Ukraine have stopped, which is a central bank official He said on The call.
according to participantscentral bank of Republic of Turkey’s Deputy Governor Mustafa Doman said new Inflation forecasts will be included in The bank report is scheduled in April, this inflation is to be seen back down near odd numbers next year.
Turkey’s annual consumer price Index (CPI) jump more than expected to the highest level in two decades of 54.4% in February.
In its January report, Central bank Expect inflation to drop to 23.2% eventually of this is year while he also He estimated it to decline to 8.2% by the end of 2023 with the influence of cash and financial steps Give priority to the Turkish lira.
The lira has remained stable in The last sessions after depreciating the value of Russia first Ukraine invaded. she has declined 11% this year After slip 44% in 2021.
It was traded around 14.85 against The dollar after calla little changed from the end on Wednesday.
Commodity price hike in Turkey because of its proximity to-total Accreditation on imports to meet their needs one of The main limitations on The economy.
Kavcıoğlu also He said that despite the central bank He has some worries over rising Inflation, it does not believe that inflation inertia will occur He believes that he will fall with positive developments in Commodity prices, according to participants.
Central last week bankkeep it policy rate on hold at 14% for For the third consecutive month, inflation was reported should begin in Part due to core effects and resolution of dispute.
The monetary authority stopped the easing cycle in January after it lowered the standard policy rate by 500 basis points since september last year.
Although some concerns remain, central Turkey bank Don’t expect stagnation in Inflation sees it coming down with a drop in Its governor said Thursday the prices of commodities and energy.
address meeting with Investors, Şahap Kavcıoğlu also . said bank He monitors the risks he is exposed to current Account balance due to rising energy prices amid conflict in Ukraine, two meetings participants He said.
The government was supported new economic program Based on on low interest rate higher Production and exports to achieve a current Account surplus.
However, the plan faces pressure due to rising commodity prices and possible He falls for Tourism revenue due to the war.
at call with Investors and economists, Kavcioglu said the risks to tourism income caused by the conflict, can be managed at the meeting participants to Reuters.
before Russia invasion of ukraine a month ago, people who are you countries make up about 30% of Foreign arrivals to Turkey while they are also pioneer trade And the defense partners.
Since then, Turkey’s exports to Russia have halved and exports to Ukraine have stopped, which is a central bank official He said on The call.
according to participantscentral bank of Republic of Turkey’s Deputy Governor Mustafa Doman said new Inflation forecasts will be included in The bank report is scheduled in April, this inflation is to be seen back down near odd numbers next year.
Turkey’s annual consumer price Index (CPI) jump more than expected to the highest level in two decades of 54.4% in February.
In its January report, Central bank Expect inflation to drop to 23.2% eventually of this is year while he also He estimated it to decline to 8.2% by the end of 2023 with the influence of cash and financial steps Give priority to the Turkish lira.
The lira has remained stable in The last sessions after depreciating the value of Russia first Ukraine invaded. she has declined 11% this year After slip 44% in 2021.
It was traded around 14.85 against The dollar after calla little changed from the end on Wednesday.
Commodity price hike in Turkey because of its proximity to-total Accreditation on imports to meet their needs one of The main limitations on The economy.
Kavcıoğlu also He said that despite the central bank He has some worries over rising Inflation, it does not believe that inflation inertia will occur He believes that he will fall with positive developments in Commodity prices, according to participants.
Central last week bankkeep it policy rate on hold at 14% for For the third consecutive month, inflation was reported should begin in Part due to core effects and resolution of dispute.
The monetary authority stopped the easing cycle in January after it lowered the standard policy rate by 500 basis points since september last year.