Treasury and Finance Minister Mehmet Simsek, despite the deterioration of inflation expectations recently, inflation will continue to decrease and inflation will remain in the target range, he said.
Şimşek, Sapanca’da International Economy Summit in his speech with a video connection, “Inflation has been falling for 10 months, will continue to fall … Latest market fluctuations, expectations may be a bit corrupted in the short term. But we believe that we will remain in the target range,” he said.
Speaking after the CBRT’s interest rate hike yesterday, Simsek said that he expects the exchange rate crossing due to the weak course in the domestic demand, “The recent market fluctuations, expectations may be a little deteriorated in the short term. However, we believe that we will remain in the target range.
After the arrest of Ekrem İmamoğlu, TL suffered a sharp depreciation. Tl, which reduced the losses after the CBRT’s foreign exchange sales, lost 3 %value against the dollar in March. Economists think that the depreciation will be reflected in inflation in April and May.
Lightning, oil prices and financial conditions in financial conditions also drew attention to the reduction of inflation, he noted.
Stating that the economy is approaching the threshold without giving a current account deficit, but still there are still what needs to be done Şimşek, “We have approached a threshold that we can grow without giving a current account deficit in a moderate growth environment. However, there are still steps in the markets.
Şimşek, referring to the turmoil in global markets due to the trade war, said that fluctuations in the markets may cause temporary slowing in the economy.
