CBRT Governor Karahan spoke at the Budapest Finance Summit

Fatih Karahan, Governor of the Central Bank of the Republic of Turkey (CBRT), made evaluations about the developments in the global economy in his speech at the Budapest Finance Summit. Karahan stated that central banks' gold demand is still at high levels.

Pointing out that central banks are going through a period where longer-term shocks are effective, Karahan stated that it is important to read the connections between countries correctly as well as economic developments.

Karahan stated that central banks are accustomed to various disruptions and economic fluctuations and said that these processes are not limited to the economy only. He emphasized that the economic interdependence of countries should be carefully evaluated during the changes taking place.

Stating that the strategic leverage effect is also taken into consideration when creating economic value, Karahan stated that countries have focused on strengthening their competitive advantages in the last 20-30 years.

Karahan also pointed out that companies created dense supply chains during this period, and noted that changes in the global economic structure also affected the relations between countries and companies.