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Central Bank of the Republic of Turkey (CBRT) after the changes made by the president in the presidential decree in which the first description pointed to the rapid rise in prices.
Although an increase of more than 16 percent was observed in the initial quotes made after the decision, 8.47 levels in surface transactions were registered in prices in dollars / TL. Then a pullback to the 8.04 level was observed in the dollar / TL.
At the initial price, the highest level was recorded at 9.74, while the exchange rate of the basket tested above 9.22.
While the Bloomberg Dollar Index started the new week horizontally, the 10-year US bond yield was recorded at 1.67 percent.
Regarding the movement in the dollar / TL exchange rate, Morgan Stanley economists said: “In the scenario where the current policy continues, the upward movement of fixed income securities in Turkish liras will be more moderate than in previous months, with the high positioning and active The evolution of prices in recent months, which indicates that the good news has been priced to a large extent. We believe “, made the valuation.
Kavcıoğlu appointed to replace Ağbal on CBRT
While Naci Ağbal was dismissed by the presidential decree published in the Official Gazette in the early hours of Saturday, Şahap Kavcıoğlu was appointed director of the CBRT.
In his first statement, the new president of the CBRT, Şahap Kavcıoğlu, emphasized the objective of achieving a permanent decrease in inflation.
Kavcıoğlu used the following statements in his statement:
Central Bank of the Republic of Turkey, duties and powers within the framework established by the Law in line with the fundamental objective of achieving a lasting fall in inflation will continue to use monetary policy tools effectively.
Although the fall in inflation will positively affect macroeconomic stability through the reduction of country risk premiums and the permanent improvement of financing costs, it will also contribute to the creation of the necessary conditions for a sustainable growth that increases investment. , production, exports and employment.
In this context, the meetings of the Monetary Policy Committee will be held in accordance with the schedule previously announced to the public, and the communication channels with all stakeholders will be used effectively in line with the principles of transparency and predictability. in the policies to be implemented.
Kavcıoğlu met with bankers
Naci Ağbal the presidential decree with the dismissal of the then Central Bank of the Republic of Turkey receipt of (CBT) appointed President of Shahab Kavcioglu, Association of Banks of Turkey (TBB) held a meeting with the general manager of the bank in the Board of Directors .
According to information Bloomberg HT obtained from leading bankers, CBRT chairman Kavcıoğlu delivered critical messages at the meeting with the bank’s general managers. At the meeting it emerged that Kavcıoğlu stressed that the main priority of the Central Bank will continue to be the fight against inflation.
The other main message that Kavcıoğlu gave at the meeting was the emphasis that there will be no change in Central Bank policies in the new period. At the meeting, messages were released that there will be no off-calendar monetary policy committee meeting.
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