Turkish Central Bank to decisively use all policy tools: Governor

ANKARA-Anadolu Agency

Turkey's new central bank chief on Nov. 9 stressed decisive use of all policy tools in pursuit of price stability objective.

The monetary policy communication will be strengthened in the framework of transparency, accountability and predictability principles, Central Bank Governor Naci Ağbal said in a statement.

Recalling that achieving and maintaining price stability is the primary objective of the Central Bank, Ağbal said: "Until the Monetary Policy Committee Meeting to be held on Nov 19, the current situation and expectations will be reviewed, developments will be closely monitored, and necessary policy decisions will be made with the available data and final evaluations."

Ağbal took over the helm of the central bank with a presidential decree issued on Nov. 7.

Meanwhile, The Turkish lira on Nov. 9 gained value as the new central bank governor assumed the charge. The U.S. dollar/Turkish lira exchange rate was down by around 4% versus Nov. 6's close.

The USD/TRY exchange rate dropped to around 8.20 currently, from around 8.55 at Nov. 6's close.