Monetary Policy Presentation to the Grand National Assembly of Turkey (TBMM) by CBRT Governor Karahan

Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan stated in his presentation at the TBMM Planning and Budget Committee that outflows from money market funds shifted toward deposits, and reported that the Turkish Lira share, both including and excluding investment funds, remained at the 61 percent level.

TBMM Presentation and Fund Outflows

Central Bank of the Republic of Turkey Governor Fatih Karahan made a comprehensive presentation to members of parliament at the TBMM Planning and Budget Committee.

During the presentation, main topics within the framework of global developments, the Turkish economy, inflation, and monetary policy were addressed.

Deposit Preferences and TL Share

Drawing attention to recent outflows from money market and similar funds in the presentation, it was emphasized that these outflows largely headed toward deposits.

When examining the currency composition, it was explained that the preference for the TL is consistent with current ratios, and the TL share continues to remain at the 61 percent level.

Inflation Developments and Expectations

Information was shared with the parliamentary committee that annual consumer inflation stood at 29.7 percent as of September.

It was reported that the main trend declined from the 30 percent levels during the war period to 23.7 percent in September.

Tight Monetary Policy and Liquidity

It was stated that the necessary tight monetary policy stance will be maintained decisively until price stability is achieved.

It was emphasized that active liquidity management and macroprudential measures continue to support the disinflation process.