Central Banks
New Turkey Central Bank Chief Vows to Maintain Tight Policy
- Governor Karahan ‘ready to act’ if inflation outlook worsens
- Finance Minister Simsek declares support for Fatih Karahan
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The Turkish central bank’s new Governor Fatih Karahan said current levels of monetary tightness would be preserved in his first remarks since his appointment on Saturday.
In an English statement published on the central bank’s website, Karahan said that price stability was “the priority” for the central bank. “We are determined to maintaining the necessary monetary tightness until inflation falls to levels consistent with our target,” he said.