When will the interest rate cut start? Prof. Dr. Hakan Kara announced…

When will the interest rate cut start?  Prof.  Dr.  Hakan Kara announced…

Economists’ statements regarding the inflation report presentation of the Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan for 2024 continue.

Former Central Bank Chief Economist and Bilkent University Faculty Member Prof. Dr. Hakan Kara made a statement regarding the presentation on the “X” social media account.

Making a prediction about the interest rate reduction process, Kara said, “If everything goes as the CBRT hopes, the interest rate reduction will start in the last quarter.”

Hakan Kara stated that he was not involved in two separate issues in his general evaluation of the presentation and drew attention to the following:

“1) It would be beneficial for the Central Bank to be more transparent regarding exchange rate policy and related data sharing. I could not see any difference in the communication of this issue compared to the previous period.

2) I found the outlook on the main trend of inflation a bit optimistic. “I recommend that inflation inertia should not be underestimated.”

Kara explained the positive points he saw in the meeting as follows:

“1) The energy of the meeting was good. There was little tension and a lot of information. Even though I disagreed with some of the arguments, it was valuable to give more open and sincere answers on many issues.

2) It was nice that the vice presidents were given the floor. If the whole public sees and recognizes Mr. Cevdet and Ms. Hatice, it will increase the trust in the team. I hope that care will be taken to preserve this harmony in the appointment of new Vice Presidents.

3) The fact that President Fatih Karahan went through central banking training made a difference compared to his predecessors. The solidity of his technical background as an economist was reflected in his answers. “Considering that he only had 4-5 days for preparation, we can say that his performance was very successful.”

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