Two sources said that a senior bank official added on the call there would be no premature interest rate cuts, and that inflation was close to the upper bound of its forecasts.
President Tayyip Erdogan fired former governor Naci Agbal on March 20 in a shock move that sent the lira down 13% as investors predicted a quick pivot to loose policy, given Kavcioglu's past criticism of Agbal's tight stance.
ISTANBUL: Turkey's newly-installed central bank governor, Sahap Kavcioglu, said on Thursday in his first call with investors that tight monetary policy would remain in place due to currently high inflation, according to three people on the call.
Two sources said that a senior bank official added on the call there would be no premature interest rate cuts, and that inflation was close to the upper bound of its forecasts.
President Tayyip Erdogan fired former governor Naci Agbal on March 20 in a shock move that sent the lira down 13% as investors predicted a quick pivot to loose policy, given Kavcioglu's past criticism of Agbal's tight stance.
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