Central Bank Governor Karahan's Statements on Money Markets and Deposits at the Parliamentary Commission
Central Bank of the Republic of Turkey Governor Fatih Karahan stated that capital exiting funds is largely heading towards deposits, emphasizing price stability.
CBRT Governor Fatih Karahan stated in his presentation at the TBMM Plan and Budget Commission that outflows from money market funds shifted toward deposits, and noted that all tools will be resolutely used for price stability.
TBMM Commission Presentation
Central Bank of the Republic of Turkey Governor Fatih Karahan made important evaluations at the Grand National Assembly of Turkey (TBMM) Plan and Budget Commission. In the presentation, it was announced that all tools will continue to be used resolutely in line with the price stability target.
Fund Outflows and Deposit Trend
It was stated that there have been recent outflows from money market and similar funds. CBRT Governor Fatih Karahan announced that these fund outflows are largely directed towards deposits.
Global Risks and Growth
Attention was drawn to the risk of deterioration in the global inflation outlook due to secondary effects. It was stated that economic growth showed a tendency to slow down led by domestic demand in the second quarter of the year.
Market Developments and Volatility
Limited increases were recorded in the country's credit risk premium and exchange rate volatility due to developments in domestic and international financial markets. It was observed that individual investors continue to sell foreign currency and precious metals.