ISTANBUL, March 26 (Xinhua) -- Türkiye's inflation expectations remain on the disinflationary path despite recent political developments, Central Bank Governor Fatih Karahan said here on Wednesday.
Addressing a meeting organized by the German Chamber of Commerce and Industry on the country's economy, Karahan emphasized the bank's commitment to monetary tightening, saying, "We will maintain a firm stance in our monetary policy."
He noted that recent financial markets have experienced volatility, with the exchange rate rising by 3 percent, the country risk premium by 71 basis points, the 10-year bond yield benchmark by 4.5 points, and the one-month exchange rate volatility by 15 points.
These fluctuations, he cautioned, pose upward risks for inflation in April.
Karahan assured that the central bank had "swiftly implemented the necessary measures to ensure these increases do not disrupt the macroeconomic outlook."
Istanbul Mayor Ekrem Imamoglu, a leading figure in the opposition Republican People's Party, was detained on Wednesday, along with some 100 others, over allegations of corruption and terror ties, rattling financial markets and investors. On Sunday, Imamoglu was formally arrested and jailed pending trial.
