08.04.2025 12:20
The President of the Central Bank of the Republic of Turkey, Fatih Karahan, stated that the process of declining inflation continues, saying, "After the decrease in goods inflation, the decline in service inflation is also becoming more pronounced."
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TCMB President Fatih Karahan delivered a speech at the EUROMETAL Steel Day and the 10th YISAD Flat Steel Conference. Karahan stated that inflation expectations are on a downward trend, saying, "The decline in service inflation is becoming evident after the goods inflation."
TCMB President also noted that cost increases have slowed down, stating, "The foreign trade balance, excluding gold and energy, remains stable. Despite weak external demand, market share in exports is increasing. The current account deficit is at historically low levels."
"MARKET SHARE IN EXPORTS WILL INCREASE"
While noting that cost increases have slowed down, Karahan mentioned in his presentation regarding current transactions, "The foreign trade balance, excluding gold and energy, remains stable. Despite weak external demand, market share in exports is increasing. The current account deficit is at historically low levels." In his presentation, while addressing the recent volatility observed in financial markets, he stated, "Uncertainties regarding global trade and economic policies have increased recently."
"A DECLINE IN INFLATION IS BECOMING EVIDENT"
Dr. Fatih Karahan, in his presentation where he stated that inflation expectations are on a downward trend, also conveyed that there is a slowdown in cost increases. The presentation stated, "The process of decline in inflation continues," and included the following assessments: "The tendency to index to the past is pulling service inflation upwards. The decline in service inflation is becoming evident after the goods inflation. A specific rise in the main trend of inflation was observed in the first quarter."
In his presentation, Karahan pointed out that the foreign trade balance, excluding gold and energy, remains stable, emphasizing that market share in exports has increased despite weak external demand, and that the current account deficit is at historically low levels. While domestic demand is noted to be moderate, it is also mentioned to be somewhat resilient, and it was highlighted that production indicators indicate a recovery in economic activity.
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