Former Chief Economist Hakan Kara: 'The Central Bank has been left alone'

Former Chief Economist Hakan Kara shared his evaluations on his X account regarding the new moves made by the Central Bank of the Republic of Türkiye (CBRT) as part of its tight monetary policy implementation. 

In his post, Kara said, "To manage until the election, they are forced to press every button except for interest rates." Kara's statement is as follows:

"Fighting inflation at these levels requires a total effort. Unfortunately, not only has the Central Bank been left alone again, but its primary policy tool is also being restricted. To manage until the election, they are forced to press every button except for interest rates."

Fighting inflation at these levels requires a total effort. Unfortunately, not only has the Central Bank been left alone again, but its primary policy tool is also being restricted. To manage until the election, they are forced to press every button except for interest rates.

— Hakan Kara (@ali_hakan_kara) March 7, 2024