Turkey's New Central Bank Governor To Review Current Situation, Expectations

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Turkey’s new central bank governor Naci Agbal after taking office said he will review current situations and expectations.

“Until the Monetary Policy Committee Meeting to be held on 19, 2020, 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 writtern statement on Monday.

President Recep Tayyip Erdogan on Saturday removed the central bank governor Murat Uysal after the Turkish lira fell to a record low this year. He was replaced with former finance minister Agbal.

The central bank will decisively use all policy tools in pursuit of its price stability objective, Agbal added.

The monetary policy communication will be strengthened in the framework of transparency, accountability and predictability principles, the banker said.

The material has been provided by InstaForex Company – www.instaforex.com

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