Economist Good luck, Governor of the Central Bank Shahap Kavcioglu‘Inflation Report’ presentation today.
He said he wanted to speak at the beginning of the meeting and was not allowed to, despite being in the foreground. “He answered questions from other economists and journalists from pre-prepared texts. Obviously, they wanted to avoid unprepared questions. (What if the tape was broadcast in a pre-recorded form?) “ expressed his views.
Gürses used the following expressions in his article on his personal blog:
“The Monetary Policy Committee (MPC), which convened before you under the chairmanship of Naji Agbal, has increased interest rates by 2 percentage points under the terms of credit expansion and the lifting of restrictions.
After this increase in interest rates, the exchange rate increased by 10 percent after the removal of Naji Agbal and his appointment as president. How strong are you, as your inflation forecast has been raised to 12.2 percent with a 2.8-point “layoff-effect” from here? Is it a tough position to maintain the same position despite additional inflation? Don’t you actually empty? Also, isn’t the position of targeting the inflation forecast at 9.4 percent taken?
Isn’t this the 2.8-point “dismissal” effect that forces society to pay compensation?
Note: In his speech, Kavcioglu stressed that the transition from exchange rate to inflation has exceeded 20 percent.
On the other hand, it is surprising to say that analysts are surprised by the reaction to the exclusion of the words “additional monetary tightening will be made if necessary” and “the tough monetary policy stance will be resolutely pursued.” for a long time “from the text of the MPC. Mayor Kavcioglu, do you think that the summary of the PPK meeting, which is the main backbone of the bank’s communication, is an ordinary statement?
However, he takes it to another dimension, saying, “I would be glad if you say that we are more in favor of a tight position.” It’s useless to take this emphasis out of the text and then say “that’s how you write”!
Madem Kavcioglu did not have the opportunity to give a word and ask questions; Let me add other questions here.
On the evening of April 23, in a joint broadcast of the three TV channels, you said that those who asked questions, albeit at a technical level, carried out a “perception operation.” While emphasizing transparency in today’s meeting, is it normal to greet those who came to the April 23 joint broadcast with technical questions in the habit of politicians with a “perception operation” and similar words?
Speaking of politicians, do you continue to be a member of your party? If not, on what date did you send your application for departure?
Do you have an idea to give technical answers to technical questions?
For example, if the Central Bank has 32 years of experience in foreign exchange intervention, why and why is the bank’s foreign currency transferred to the Treasury and then to a commercial bank in the protocol? the need to be sold by institutions? What do you need? “
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