Global Central Bank Governors Gather at Forum in Istanbul
Central bank executives from various countries evaluated current challenges in the global economy at an event held in the Istanbul Finance Center.
Within the scope of the Istanbul Economy Forum, hosted by the Central Bank of the Republic of Turkey at the Istanbul Finance Center, international policymakers and central bank governors came together.
Scope of the Istanbul Economy Forum
At the event hosted by the Central Bank of the Republic of Turkey at the Istanbul Finance Center, senior policymakers from all over the world gathered.
Through sessions held within the framework of the program, global economic developments and the strategies pursued by central banks were discussed.
Monetary Policy Under Uncertainty Panel
A special session titled "Monetary Policy Under Uncertainty" was held, moderated by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority.
In this panel, diverging monetary policies, pricing mismatches in markets, and risks posed by new technologies were addressed in detail.
Azerbaijan's Method of Combating Inflation
Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, stated that his country was affected by inflation movements outside its borders.
Kazimov conveyed that they are trying to curb imported inflation by strengthening a stable currency and the nominal effective exchange rate.
Growth Performance of the Greek Economy
Yannis Stournaras, Governor of the Bank of Greece, stated that the European economy has shown resilience despite geopolitical tensions and the energy crisis.
Stournaras emphasized that Greece has recorded a growth rate twice the eurozone average and has decoupled positively.
Hungary's New Inflation Targets
Mihaly Varga, Governor of the Central Bank of Hungary, announced that the inflation rate in the country dropped to 1.6 percent in September.
Varga informed participants that the new inflation target of 2.5 percent will enter into force on January 1, 2028.
Persistence of Shocks and Future Risks
Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, noted that it is very important for central banks to distinguish whether the shocks they face are temporary or permanent.
Mihaly Varga, on the other hand, warned that continuous support by central banks could create moral hazard.