Türkiye Banks Association: CBT Chairman stated that the monetary adjustment process has started

The Turkish Banking Association (TBB) made a statement regarding the meeting of Hafize Gaye Erkan, President of the Central Bank of the Republic of Turkey (CBRT), with the Board of Directors of TBB. TBB’s statement included the following statements:

* “The President of the Central Bank of the Republic of Turkey Dr. Hafize Gaye Erkan met with the Board of the Turkish Banking Association. The meeting discussed economic developments in the world and in our country, the most recent situation in the banking sector and expectations for the future. Opinions and suggestions on the topics on the banking sector’s agenda were presented to our President by the Board of Directors.

* Alpaslan Çakar, Chairman of the Board of the Turkish Banking Association, stated that the meeting was constructive and very useful. Mr. Çakar stated that the banking sector has a resilient and healthy structure, provides confidence to its stakeholders, meets high international standards, and carries out an important task in conveying economic policies to all relevant segments.

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“MONEY ADJUSTMENT PROCESS BEGAN”

* Stating that the predictable operating environment provided by low inflation and internationally accepted regulations play an important role in the growth and strengthening of the banking sector in TL terms, Chairman Çakar said that; He emphasized that qualified investments that provide employment and reduce the current account deficit, production with high added value will continue to contribute more to the financing of competitive exports in world markets, and with it to increase the welfare of our peoples.

* Mr. Erkan, Chairman of the CBRT, affirmed that the monetary tightening process has begun to ensure disinflation as soon as possible and expressed that he trusts that all economic actors will take a decisive position in the fulfillment of their functions until they are achieve significant improvement. achieved in the inflation outlook.

“THE SIMPLIFICATION PROCESS WILL BE CARRIED OUT GRADUALLY”

* Mr. Erkan pointed out that the solid balance sheet structure of the banking sector is at a level that will contribute to the continuation of sustainable economic growth in our country, to increase employment and support strategic investments that will accelerate the permanent improvement in the balance of the current account.

* Erkan, ‘We have received the views and suggestions of the Turkish Banking Association regarding the simplification of the macroprudential framework. The simplification process will be carried out gradually by carrying out impact analysis.

* Mr. President said that as we increase predictability in the economy, they believe that our businessmen will do business much more efficiently by making the right decisions and that they will continue to work closely with the industry.”