2024-02-04T15:08:18+00:00
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/ The new governor of the Turkish Central Bank, Fatih Karahan, confirmed on Sunday that his team is determined to adopt a strict approach to monetary policy until inflation falls to levels consistent with its goals.
“We will monitor inflation expectations and pricing behavior. We are ready to take action if there is any deterioration in inflation expectations,” Karahan said in his first comments since taking office.
Turkish President Recep Tayyip Erdogan has appointed Deputy Governor of the Central Bank, Fatih Karahan, as the new governor of the bank, following the resignation of Hafiza Gaye Erkan, according to the country’s official gazette.
Erkan attributed her resignation to reasons including the need to protect her family amid the “assassination of her reputation”, which raised doubts about the strong monetary tightening policy she had pursued.
She is the first woman to head Turkey’s central bank and the fifth governor to leave the post in five years, after President Recep Tayyip Erdogan dismissed the last four governors, eroding the bank’s independence.
Senior cabinet figures were quick to say the economic programme would continue after her departure.