The Monetary Policy Committee of the CBRT would use all its tools in a timely and effective manner, Ağbal said during his briefing on the 2021-1 Inflation Report.
"The tight and cautious stance in monetary policy will be decisively maintained for an extended period until 2023 when the 5 percent target will be reached," he said and added:
"Besides the current information set, if any new information arrives pointing at the risk of inflation expectations and pricing behavior diverging from the medium-term target path, additional front-loaded tightening will be implemented.
"Until reaching the 5 percent target, the level between the actual / expected inflation rate path and the monetary policy interest rate path will be maintained by pursuing a strong disinflationary balance and this balance will be sustained continuously."