Central Bank official states "continue the tight stance."

The economic management is sending a message of continuing tight monetary policy. The latest statement came from Central Bank Deputy Governor Cevdet Akçay.

In an evaluation to the British magazine The Economist, Akçay shared his views on the Turkish economy and monetary policy. Emphasizing that the tight stance will continue, Akçay stated, "We will maintain a tight monetary policy until monthly inflation shows a sustainable downward trend; there is no other way."

THE TURKISH LIRA MAY APPRECIATE

The Central Bank Deputy Governor, Akçay, who stated that the depreciation of the Turkish Lira would affect prices upwards, said, "A weak TL is a dead end. We are keeping monetary policy tight to control inflation, which may lead to a real appreciation of the TL." Cevdet Akçay also emphasized that they do not aim for a real appreciation of the Turkish Lira, but noted that this is a consequence of the implemented policy.