CBRT: The Committee reiterated that it remains highly attentive to inflation risks

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3 Temmuz 2024 20:30
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The tight monetary stance would be maintained until a significant and sustained decline in the underlying trend of monthly inflation was observed and inflation expectations converge to the projected forecast range, according to the statement, adding:

“Monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen. The decisiveness regarding the tight monetary stance will bring down the underlying trend of monthly inflation through moderation in domestic demand, real appreciation in the Turkish lira, and improvement in inflation expectations. Consequently, disinflation will be established in the year’s second half.”

In case of unanticipated developments in credit and deposit markets, the monetary transmission mechanism would be supported via additional macroprudential measures, CBRT said and added:

“Liquidity conditions are closely monitored. Sterilization will be implemented effectively by also enriching the toolset whenever needed.

“Taking into account the lagged effects of monetary tightening, the Committee will make its policy decisions to create the economic and financial conditions necessary to ensure a decline in the underlying inflation trend and to reach the 5 percent inflation target in the medium term.

“Indicators of inflation and underlying trend of inflation will be closely monitored, and the Committee will decisively use all the tools at its disposal in line with its main objective of price stability. The Committee will make its decisions in a predictable, data-driven and transparent framework.”
 

Albania News Agency

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