CBRT’s Ağbal says central bank must aim for ‘permanent price stability’

Naci Ağbal
Naci Ağbal
Photo: Central Bank of the Republic of Turkey

The Central Bank of the Republic of Turkey (CBRT) must focus on a single objective: “permanent price stability”, governor Naci Ağbal said in a blog post on March 5.

The governor stressed his commitment to what he described as a “decisive and predictable” monetary policy. He said a “paradigm shift” had taken place in Turkey’s monetary policy since he took office in November.

Ağbal has presided over two sharp rate hikes, in November and December, taking the policy rate from 10.25% to 17%

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