Automotive Exports August 2023
Central Bank head highlights confidence in Türkiye’s inflation fight Türkiye’s newly-appointed central bank Governor Hafize Gaye Erkan said there is confidence in the government’s determination to fight inflation, as all units are striving to deal with the problem. After meeting with the leadership of the Turkish Banks Association, Erkan told reporters in Istanbul that they had a very productive discussion with the banking sector. They were briefed on the sector’s issues and their requests to simplify the macroprudential framework, said Erkan, who was appointed following Recep Tayyip Erdoğan’s victory in Türkiye’s May 28 presidential runoff. She expressed confidence that all economic units are working hard to combat inflation in line with the government’s economic targets, adding, “I am sure that we will tackle this in a stable, determined and goaloriented manner.” Erkan stressed the importance of price stability for financial stability, explaining that they would combat inflation by ensuring both price stability and financial stability. Finance Minister Mehmet Şimşek said Türkiye’s path to price stability would be gradual but steadfast. Annual inflation eased to below 40% in May after touching a 24-year high of above 85% in October last year. The Central Bank of the Republic of Türkiye (CBRT) said inflation will come under further pressure. August 2023 80
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Central Bank<br />
head highlights<br />
confidence<br />
in Türkiye’s<br />
inflation fight<br />
Türkiye’s newly-appointed central bank<br />
Governor Hafize Gaye Erkan said there<br />
is confidence in the government’s<br />
determination to fight inflation, as all units<br />
are striving to deal with the problem.<br />
After meeting with the leadership of the<br />
Turkish Banks Association, Erkan told<br />
reporters in Istanbul that they had a very<br />
productive discussion with the banking<br />
sector. They were briefed on the sector’s<br />
issues and their requests to simplify the<br />
macroprudential framework, said Erkan,<br />
who was appointed following Recep Tayyip<br />
Erdoğan’s victory in Türkiye’s May 28<br />
presidential runoff.<br />
She expressed confidence that all economic<br />
units are working hard to combat inflation<br />
in line with the government’s economic<br />
targets, adding, “I am sure that we will<br />
tackle this in a stable, determined and goaloriented<br />
manner.”<br />
Erkan stressed the importance of price<br />
stability for financial stability, explaining<br />
that they would combat inflation by<br />
ensuring both price stability and financial<br />
stability. Finance Minister Mehmet Şimşek<br />
said Türkiye’s path to price stability would<br />
be gradual but steadfast.<br />
Annual inflation eased to below 40% in<br />
May after touching a 24-year high of above<br />
85% in October last year. The Central Bank<br />
of the Republic of Türkiye (CBRT) said<br />
inflation will come under further pressure.<br />
<strong>August</strong> <strong>2023</strong> 80
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