CBRT Governor Karahan Evaluates Disinflation Process in New York

Central Bank of the Republic of Turkey Governor Fatih Karahan emphasized during his presentation at the Turkey Investment Conference in New York that the disinflation process continues despite challenging supply conditions and external shocks.

Conference Presentation in New York

Central Bank of the Republic of Turkey Governor Fatih Karahan attended the 19th Turkey Investment Conference organized by the DEIK Turkey-US Business Council in New York. Within the scope of the conference, he delivered a comprehensive presentation on inflation and the macroeconomic outlook.

Rent and Services Inflation

Stating that services inflation continues to show rigidity, Karahan expressed that the improvement in rental inflation supports the disinflation process. On the other hand, he noted that transportation services partially offset this improvement.

Domestic Demand and Foreign Trade Balance

Voicing that growth has slowed down with the weakening in domestic demand, Karahan stated that the foreign trade balance has improved and travel revenues maintain their strong course. It was stated that credit growth has slowed down significantly since the spring.

Monetary Policy and Expectations

Emphasizing that monetary policy tightening steps have been taken to limit risks in the inflation outlook, Karahan reported that domestic residents' demand for the Turkish lira remains strong and reserve buffers are preserved.