Central Bank Governor Karahan Makes Statement on Disinflation in New York
Central Bank of the Republic of Turkey Governor Fatih Karahan emphasized in his presentation at a conference in New York that the disinflation process continues despite supply conditions.
Central Bank of the Republic of Turkey Governor Fatih Karahan evaluated global and local economic developments at the 19th Turkey Investment Conference held in New York.
Conference Presentation in New York
Central Bank of the Republic of Turkey Governor Fatih Karahan delivered an important presentation within the scope of the 19th Turkey Investment Conference held in New York.
Disinflation Process and Supply Conditions
In his presentation, Fatih Karahan stated that when data is examined as a whole, it clearly shows that the disinflation process continues despite challenging supply conditions.
Services Inflation and Rent Developments
Noting that recent data should be interpreted carefully, Karahan conveyed that supply shocks affect headline inflation and that services inflation exhibits rigidity. He also reported that a clear improvement has been observed in rents.
Domestic Demand and Growth Trends
Stating that growth has lost momentum due to the effect of the weakening in domestic demand, Karahan noted that policy assessments must take into account changes in underlying trends.
Reserves and Demand for TRY
Stating that the domestic residents' demand for the Turkish lira remains strong, Karahan added that international reserve buffers also maintain their robust position.