Monetary Policy Presentation to the Grand National Assembly of Turkey (TBMM) by CBRT Governor Karahan
Central Bank Governor Fatih Karahan stated that outflows from money market funds have shifted to deposits, and the TRY share is 61 percent.
Central Bank of the Republic of Turkey Governor Fatih Karahan, in his presentation at the Planning and Budget Committee of the Grand National Assembly of Turkey, reported that outflows from money market funds have shifted to deposits, the TRY share has been maintained at 61 percent, and gross reserves have reached 171 billion dollars.
Presentation to the Parliament Committee
Central Bank of the Republic of Turkey Governor Fatih Karahan made a comprehensive presentation to the members of parliament at the Planning and Budget Committee of the Grand National Assembly of Turkey.
Fund Outflows and Deposits
It was announced that there have been recent outflows from money market and similar funds, but these resources have largely shifted toward deposits.
Turkish Lira Share
It was emphasized that the share of the Turkish lira, both including and excluding investment funds, continues to remain at the 61 percent level.
Inflation and Tight Policy
It was stated that the necessary tight monetary policy stance will be maintained with determination until price stability is achieved, and the policy rate hovers close to 37 percent.
Consumer Inflation Data
It was reported that as of September, annual consumer inflation materialized at 29.7 percent and the annualized main trend declined.
Reserve Status and Current Account Balance
It was announced that gross reserves rose to 171 billion dollars as of September 25, while net reserves excluding swaps stood at the level of 40 billion dollars.