Turkish CBRT Policy Announcement 37% vs. Exp. 37% (Prev. 37%)

INFLATION:

• The underlying trend of inflation was essentially flat in February. 
• As uncertainty heightened amid geopolitical developments, global risk appetite deteriorated and energy prices increased. 
• To contain the risks posed by these factors to the inflation outlook, decisions supporting tight monetary policy have been enacted alongside coordinated fiscal measures

POLICY:

• The tight monetary policy stance, which will be maintained until price stability is achieved, will strengthen the disinflation process through demand, exchange rate, and expectation channels.