Central Banks
Turkey’s Central Bank Head Vows ‘Whatever It Takes’ on Inflation
- Karahan said rate-setters will tighten policy more if needed
- Inflation is seen peaking at around 75% in the coming months
Fatih Karahan
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Turkish central bank Governor Fatih Karahan promised to do “whatever it takes” to curb inflation and signaled further monetary tightening if needed, according to people with direct knowledge of the matter.
Speaking earlier this week at an event organized by JPMorgan Chase & Co. in Washington, Karahan echoed former European Central Bank chief Mario Draghi’s famous pledge to save the euro in 2012 as he emphasized the central bank stands ready to do more, despite already exceeding market expectations on tightening, the people said. They requested anonymity because the event was closed to the press.