CBRT Governor Fatih Karahan Speaks at Meetings in Bangkok

Central Bank of the Republic of Turkey Governor Fatih Karahan delivered a presentation in Bangkok as part of the IMF and World Bank annual meetings, sharing evaluations on economic policies.

Annual Meetings in Bangkok

Central Bank of the Republic of Turkey Governor Fatih Karahan attended the annual meetings organized by the International Monetary Fund and the World Bank in Thailand's capital, Bangkok.

In this context, Karahan gave a comprehensive presentation to participants under the title 'Macroeconomic Outlook and Monetary Policy in Turkey'.

Fund Outflows and TRY Assets

Governor Fatih Karahan stated that the experienced fund outflows did not cause a notable weakening in domestic residents' interest in Turkish lira-denominated assets.

Stating that domestic residents maintain their strong preference for the Turkish lira, Karahan emphasized that the tight monetary policy stance has been effective during this process.

Inflation and Energy Prices

Pointing out that a slowdown is observed in the main trend of inflation despite rising energy prices, Fatih Karahan stated that weak demand has mitigated the pressures stemming from supply shocks.

He noted that the most prominent effect on inflation this year originated from energy prices, and the disinflation process continues, particularly in the services sector.

Current Account Deficit and Monetary Policy

Karahan conveyed to the participants that the current account deficit continues to remain at limited levels despite external negative impacts.

He added that the tight monetary policy stance, which will be maintained until price stability is fully achieved, will strengthen the disinflation process.