Turkey’s New Central Bank Governor Signals No Immediate Action
Turkey’s New Central Bank Governor Signals No Immediate Action
(Bloomberg) -- Turkey’s central bank will be in a review mode until its next policy meeting, Governor Naci Agbal said in his first public comments, a sign he may take no immediate action after his sudden appointment.
Prior to the Monetary Policy Committee’s meeting scheduled for Nov. 19, “the current situation and expectations will be reviewed, developments will be closely monitored; and necessary policy decisions will be made with the available data and final evaluations,” Agbal said in a statement two days after President Recep Tayyip Erdogan named him to the job.
The central bank “will decisively use all policy tools in pursuit of its price stability objective,” Agbal said. “The monetary policy communication will be strengthened in the framework of transparency, accountability and predictability principles.”
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