The head of Turkey’s central bank on Wednesday described recent policy steps as “front loaded,” after the bank slashed its key interest rate by 750 basis points in less than two months, Reuters reported.
Governor Murat Uysal, addressing an industry forum in Ankara, said the central bank must maintain its “cautious” stance even while he predicted a continued drop in inflation and a moderate recovery for Turkey’s economy.
“We anticipate that risk premiums and financial volatility will also decrease in the upcoming period and recovery in economic activity will continue,” Uysal was quoted as saying in the pro-government Daily Sabah.
President Recep Tayyip Erdoğan in July has sacked Murat Çetinkaya, the former governor of the bank, after a dispute on decreasing interest rates.
The post Turkey’s central bank governor says recent steps were ‘front loaded’ appeared first on Turkish Minute.
from Turkish Minute https://www.turkishminute.com/2019/09/25/turkeys-central-bank-governor-says-recent-steps-were-front-loaded/
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