Turkish Central Bank Governor Durmus Yilmaz declared Tuesday that financial stability is a prerequisite for effective monetary policy, speaking at a press conference in Ankara.
Yilmaz said the bank actively takes steps to maintain systemic stability, shares its assessments with the public in the interest of transparency, and issues warnings about emerging risks.
He noted that recent turbulence in global markets had rippled into Türkiye, but said the impact was kept to a minimum by the country's underlying financial structure. The episode, he added, reinforced the value of a sound and resilient system.
The governor warned that financial instability poses serious dangers to broader economic goals, including sustainable growth and price stability. He credited strict fiscal policy with delivering meaningful progress on public finances, and emphasized that maintaining fiscal discipline and meeting primary surplus targets remain critical to overall financial stability.
Historical summary. TurkishPress restated this wire report, first published in June 2006, in its own words.