CBRT Governor: There is room for improvement in Turkish economy

“There is room for improvement in Turkish economy in terms of inflation reserves and risk premium, the country’s central bank Governor Sahap Kavcioglu said on Wednesday.

Additional comments

Net exports contribute to growth.

Data shows rapid recovery in services sector.

High interest rates on loans limits loan access.

Receiving positive signals in terms of recovery in tourism.

Expect current account balance to stand at surplus during the remainder of the year.

Swap agreements aim to ease trade in local currencies.

Sees inflation to get into a falling trend in the remainder of the year.

Food prices inflation above historic average in July and August.

Sees pricing behavior to return to pre-outbreak levels as the economy and social normalization continues.

Turkey's GDP growth is mainly due to the industry and manufacturing sector in Q3.

Policy stance tight enough to lower inflation in Q4.