Türkiye's new Central Bank Governor vows to fight inflation

In his first public address since taking the helm, Karahan emphasized price stability as the central bank's "main objective and priority." He assured the public that they will "maintain the necessary monetary tightness until inflation declines to levels consistent with our target."

Karahan further elaborated on his strategy, stating that they will "closely monitor inflation expectations and pricing behaviour," and remain vigilant against any signs of rising inflation. His firm stance reflects the urgency of addressing the issue, as Türkiye currently grapples with inflation exceeding 50%.

The governor's statement comes amidst economic unease and public concern about the rising cost of living. His commitment to fighting inflation is likely to be met with cautious optimism, but questions remain regarding the effectiveness of the planned measures and the impact on other economic factors. (ILKHA)