Turkey’s central bank said on Sunday that allegations it shared undisclosed information with investors during meetings in London last week were “completely unfounded.”
The bank’s response follows a Reuters report citing participants who said the briefings left the impression that a possible interest rate hike was being considered as authorities respond to the economic fallout from the Iran war.
Central bank governor Fatih Karahan and Finance Minister Mehmet Simsek attended the meetings with foreign investors, where officials expressed confidence in recent policy steps, according to the report.
In a statement, the central bank said the discussions were limited strictly to publicly available monetary policy texts and published macroeconomic data.
“The central bank does not, under any circumstances, disclose non-public information or policy assessments to any external parties, whether domestically or internationally,” it said.
The bank added that such briefings are aimed at addressing technical questions on the macroeconomic outlook, financial markets and the banking sector, to improve understanding of monetary policy implementation.
In a separate statement, the Treasury and Finance Ministry said Simsek does not comment on interest rate policy at any meetings, domestic or international, as a matter of principle.
Background
The meetings took place after Turkish authorities introduced a series of measures to stabilise the economy, including large-scale foreign exchange interventions to support the lira and maintain the disinflation path.
The policy steps come amid heightened economic pressure linked to the war involving Iran, which has affected regional markets and investor sentiment.
Turkey has been pursuing a more orthodox economic approach in recent years, focusing on tighter monetary policy and efforts to curb inflation, which remains a key challenge for the economy.