Central Bank of Turkey spoke about its policy in 2022

The central bank of Turkey issued a statement in which it outlined the main directions of its monetary policy for the next year. In particular, it says that the regulator continues to adhere to the floating exchange rate of the lira, as well as the inflation target of 5%, which should be achieved in the medium term. The national currency rate will be formed based on supply and demand. In addition, the Bank of Turkey announced its purpose to increase the reserve volume. This year, the country’s financial arrangement has experienced serious concern due to the lira decline. Most experts believe that the reason for the negative trend was the decision of the country’s Central Bank to reduce the key rate. At the auction on December 20, the dollar rate reached a recorded grade of 18.4 lire. Then the situation in the foreign exchange market improved somewhat. Lyra began to strengthen. This was facilitated by the speech of the head of state. Erdogan assured that in the near future, all the necessary measures will be taken to strengthen the national currency and reduce inflation.

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Arseny Kudrin

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