Minister of Treasury and Finance Mehmet Şimşek stated, “We are on duty. We will continue to take all necessary steps for the healthy functioning of the markets.” Following a technical meeting between the Central Bank and the Turkish Banks Association, it was emphasized that all kinds of tools within market rules will be effectively and decisively used to maintain stability.

Minister Şimşek shared on social media that measures have been taken regarding the recent developments in the economy. Evaluating market developments in a social media post, Şimşek stated: “We are on duty. We will continue to take all necessary steps for the healthy functioning of the markets. Please do not believe in false news.”

Furthermore, representatives of banks, including officials from the Central Bank of the Republic of Turkey (CBRT) and members of the Board of Directors of the Turkish Banks Association (TBB), gathered to evaluate the recent developments in the markets. In an announcement on the TBB’s website, it was reported that officials from the Central Bank and representatives of TBB member banks discussed the recent market developments. The announcement noted that the technical meeting, originally planned for March 21st, was hosted by the Central Bank and stressed that “with the close cooperation of all relevant institutions, all available means within market rules will be used effectively and decisively to maintain stability.”

Statement from President Karahan Central Bank President Fatih Karahan also mentioned that he will do everything necessary within market rules. Karahan said, “We prioritize that the measures we take are market-friendly,” and used the expression “Our two-way communication channels are always open.”