Turkey and Northern Cyprus call for inflation‑targeting as central‑bank policies face criticism

Economist Ahmet Melih Karavelioğlu, an associate professor, argued that the Turkish Republic of Northern Cyprus needs an economy programme centred on inflation targeting, tailored to the territory’s realities. He said existing institutions – the Ministry of Finance and the Central Bank – are capable, but lack political will and vision. Karavelioğlu noted that a clear inflation target would give merchants and businesses predictability and help identify exploitative price hikes, and he stressed that such a policy could be implemented with the support of Turkey.

In Turkey, Good Party deputy leader Alper Akdoğan condemned the Central Bank’s frequent inflation updates, claiming they fail to improve citizens’ purchasing power and serve foreign bankers rather than the Turkish people. Akdoğan said the monetary programme is disconnected from the real economy and called for policies that protect the domestic populace.

Both statements reflect growing dissatisfaction with current monetary policy and a shared call for a disciplined, inflation‑targeting approach.