President of the Central Bank, Fatih Karahan, explained the measures taken against market volatility to the business world. Karahan emphasized that the disinflation process will continue. He stated that the decline in inflation is ongoing during a conference organized by the steel sector in Istanbul. Evaluating current economic developments, Karahan mentioned that cost increases have slowed down and inflation expectations are showing a downward trend. Karahan noted that the decline in inflation persists, especially in service inflation following goods inflation. He also pointed out that domestic demand remains moderate with some resistance. Karahan highlighted the increasing volatility in financial markets in recent times. During the presentation, it was shared that on March 18, the exchange rate of the dollar, which was 36.68 Turkish lira, rose to 38 lira, and the credit risk premium increased from 256 basis points to 363 basis points on the same date. Various measures have been taken against these developments. Touching upon developments in exports, the President of the Central Bank stated, “Production indicators suggest recovery in economic activity. Despite weak external demand, market share in exports is increasing.” The Central Bank President also reported that the current account deficit is historically at low levels.
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