The Central Bank released a summary of the interim meeting, emphasizing the importance of a tight monetary policy and signaling that additional measures will be taken if deemed necessary. The Central Bank of the Republic of Turkey (CBRT) published the highlights of the interim meeting where the overnight lending rate was increased. In the statement by the Central Bank, it was mentioned that all tools available for the purpose of price stability will continue to be used decisively and effectively within market rules.

The statement from the CBRT included the following remarks: “A tight monetary policy stance will be maintained until a permanent decrease in inflation and price stability is achieved. The Board will determine the steps to be taken regarding the policy rate with a focus on the inflation outlook, using a cautious and meeting-based approach. In case of a significant and lasting deterioration in inflation, the monetary policy stance will be tightened. Additional measures will be taken if deemed necessary to ensure the smooth functioning of financial markets. The proactive measures taken to reduce volatility in financial asset prices aim to limit the upward risks on the inflation outlook.”