[ad_1]
Finance and Finance Minister Lütfi Elvan made a statement about the Central Bank, which was criticized by market circles for its inability to make independent decisions and said: “The Central Bank is responsible for determining and implementing the policies and tools that will guarantee price stability.
Lütfi Elvan, who was appointed to the Ministry of Finance and Finance after Berat Albayrak, made important statements about the Central Bank (MB), whose independence is disputed by market circles due to pressure from the government.
Lütfi Elvan, who shared his statement on his Twitter account and stated that the main purpose of the central bank is to ensure and maintain price stability, said: “The Central Bank is responsible for determining and implementing policies and tools that ensure the stability of prices in line for this purpose. “
Elvan also stated that “the central bank announced that it will adopt a simple monetary policy framework in the next period increasing transparency and predictability, while making a clear and strong monetary adjustment on November 19”, and that it will strengthen the administrative capacities of all relevant institutions, especially financial ones, and declared that they would increase.
The press release issued by the Minister of Finance and Finance, Lütfi Elvan, is as follows:
‘PREDICTABILITY’ MESSAGE
“The main objective of economic policies is to increase social welfare. Increased social welfare includes job growth, fair income distribution and sustainable growth. The precondition for this is macroeconomic stability.
The main objective of the Central Bank is to achieve and maintain price stability. In line with this purpose, the Central Bank is responsible for determining and implementing policies and instruments that ensure price stability. Without a doubt, price stability contributes to sustainable growth and social welfare by increasing the predictability of the economy. This is a generally accepted situation demonstrated by both our national and international experiences.
The Central Bank announced on November 19 that it would adopt a simple monetary policy framework increasing transparency and predictability, while making a clear and strong monetary tightening.
The proper functioning of the Central Bank’s monetary transmission mechanism, that is, the extent to which the monetary policy orientation is reflected in the financial markets, is of vital importance for the Central Bank to achieve its objective of price stability. Therefore, it is an important issue that credit and deposit markets operate competitively and that intermediation costs are observed. In this context, we consider it an important issue to reduce intermediation costs and set prices in the credit and deposit markets within the free market mechanism.
Achieving macroeconomic stability, including price stability, is an important prerequisite for sustainable growth and increased social welfare. In this context, we will formulate our fiscal policies, financial sector policies and public finance policies in such a way that they continuously support macroeconomic stability and ensure permanent price stability, complementing the monetary policy measures that are taking place.
We will strengthen the administrative capacities of all relevant institutions, especially financial ones, and increase their operational competencies.
Supporting monetary policy focused on price stability with public fiscal discipline and determining public wages and prices in line with inflation targets will play a key role in the rapid convergence of inflation expectations with targets. To do this, we will work closely with the relevant public institutions and organizations. “
– Lütfi Elvan (@lutfielvan) November 20, 2020
The news you have just read was presented to you by an independent media outlet.
Independent journalism; It is an indispensable condition to defend the people against capital, work against exploitation, justice against inequality, peace against wars, fundamental rights against the market, nature against looting, women against male violence, children against abuse.
If you too want to take responsibility for speaking out for the truth, take a few minutes. You can subscribe to BirGün Y ‘#My day‘You can say.
Thanks in advance …
One day is ours; all of us.
[ad_2]
