ISTANBUL — Turkey’s new Central Bank Governor Naci Agbal pledged to maintain a tight monetary policy to stem the nation’s double-digit inflation during a videoconference Wednesday in which he outlined plans for 2021.
Appointed in early November, Agbal oversaw Turkey’s largest interest rate hike in two years during his first policy rate meeting last month. He said Wednesday he was prepared to raise rates further if necessary to curb inflationary pressures. The Central Bank’s next rate meeting is scheduled for Dec. 24.