Turkey’s central bank governor talks about interest and inflation

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Turkish Central Bank Governor Şahap Kavcıoğlu said, “I do not find a biased approach like an immediate rate cut. The central bank is fully committed to the 5 percent inflation target.”

This came through a statement made by the Governor of the Central Bank, Şahap Kavcıoğlu, to Bloomberg.

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“I don’t find a biased approach, which is to reduce the interest rate immediately regarding the MPC’s decision in April or the following months. In the new period, we will continue to make our decisions in a way that ensures the permanence of the decline in inflation,” Kavcioglu said.

“We are very committed to the 5 percent inflation target.”

Kavcioglu said, saying that they will also monitor the effects of the policy steps taken so far, and that the central bank is fully committed to the 5 percent inflation target.

Kavcioglu also gave a message of commitment to the floating exchange rate regime: “We will continue to use monetary policy tools independently.”

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