off-the-wire

Turkish central bank governor: policy framework has power to lower inflation

Kitco Media
By Reuters
Published:
Updated:
Reuters

ANKARA, March 29 (Reuters) - Turkish Central Bank Governor Sahap Kavcioglu said on Wednesday the current policy framework "has the power" to ensure a fall in inflation and that targeted loan policies would continue in order to support exports and investment.

Last week the central bank held its policy rate at 8.5%, saying it had become even more important to keep financial conditions supportive to preserve growth momentum after last month's devastating earthquakes.

In a speech in Ankara, Kavcioglu also said it was necessary for Turkey to develop its export capacity in order to increase its capacity to achieve a lasting current account surplus.

Reporting by Nevzat Devranoglu, Ezgi Erkoyun and Ece Toksabay; Writing by Daren Butler; Editing by Andrew Heavens
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