Deputy Minister of Treasury and Finance Osman Çelik and CBRT President Hafize Gaye Erkan met with representatives of the jewellery industry in Ankara. The problems of the sector representatives were listened to at the meeting. At the meeting, it was stated that there has been a remarkable increase in gold imports in Turkey recently and this situation has an impact on the current account deficit, and it was pointed out that macroprudential measures have been implemented to strengthen financial stability during the transition process. On the other hand, it was stated that producer segments such as jewellery exporters will continue to be supported.

Osman Çelik, Deputy Minister of Treasury and Finance, then delivered a speech, in which he explained that the government started its work by establishing macro balances and that they would meticulously monitor the side effects of the measures on the real sector and take the necessary measures to improve the competitive power of the relevant sectors in exports.

Listening to the problems of sector representatives, CBRT Governor Hafize Gaye Erkan said, "We continue to implement our road map, which we shared with the public at our Inflation Report meeting, with gradual and decisive steps in order to create the ground for the sustainable start of disinflation in 2024." 

The Monetary Policy Committee (MPC) raised the policy rate, the one-week repo auction interest rate, by 1650 basis points from 8.5 percent to 25 percent in the first three meetings chaired by Hafize Gaye Erkan. The MPC included gradual and decisive monetary tightening messages in its decision texts. At the Inflation Report Briefing Meeting on 27 July, Governor Erkan said, "We initiated a strong monetary tightening process in June. We emphasised that this process would be gradual, balanced and stable."