Fatih Karahan, the President of the Central Bank, explained the measures taken against market volatility to the business world. Karahan emphasized that the disinflation process would continue. Speaking at a conference organized by the steel sector in Istanbul, Karahan mentioned that the decrease in inflation is ongoing. He evaluated current economic developments, stating that the slowdown in cost increases has caused a decline in inflation expectations. Karahan noted that there is a noticeable decrease in service inflation following the decline in goods inflation, despite domestic demand showing a moderate but somewhat resilient trend.

Karahan also pointed out increased volatility in financial markets recently, sharing that the dollar exchange rate, which was 36.68 Turkish lira on March 18, had risen to 38 lira. Additionally, the credit risk premium had increased from 256 basis points to 363 basis points on the same date. Measures have been taken in response to these developments. Addressing export trends, the Central Bank President mentioned that production indicators suggest a recovery in economic activity, with an increase in market share in exports despite weak external demand.

Karahan also reported that the current account deficit is historically at low levels.