Central Bank Deputy President Cevdet Akçay stated that they will maintain a tight stance until inflation shows a decreasing trend. The economic management continues to message for a tight monetary policy. Central Bank Deputy President Cevdet Akçay evaluated to The Economist magazine. Akçay shared his views on the Turkish economy and monetary policy. Regarding monetary policy, Akçay stated that the tight stance will continue. Akçay said, “We will continue with a tight monetary policy until monthly inflation shows a sustainable decreasing trend, there is no other way.” The Deputy President of the Central Bank also assessed the Turkish Lira. Mentioning that the depreciation of the TL will affect prices in an upward direction, Akçay used the expression, “A weak TL is a dead-end road. We are keeping the monetary policy tight to control inflation, which may lead to a greater appreciation of the TL in real terms.” Cevdet Akçay also emphasized that they do not target the real appreciation of the Turkish Lira, but highlighted that it is a consequence of the policy implemented.
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