The latest developments in the global economy are characterized by many events. The combination of a massive stimulus program and an early recovery encouraged an increase in aggregate demand which created inflationary pressure, forcing monetary tightening, one of which is the United States, which began implementing tapering earlier this month. From the domestic side, the controlled number of daily Covid-19 cases has encouraged the creation of new momentum for economic recovery. Disruption in the real sector in any form can disrupt the ongoing recovery process. Considering these various aspects, the current monetary easing has the potential to exacerbate capital outflows and we are still far from that stage
ideal for implementing monetary tightening without jeopardizing recovery in the real sector. Therefore, holding the policy interest rate at 3,50% is the right step at this time.