C.Bank expects Turkey's inflation rates to enter falling trend in Q4

CB Governor said they would focus on establishing price stability in the term ahead.

C.Bank expects Turkey's inflation rates to enter falling trend in Q4

Turkey's Central Bank Governor Durmus Yilmaz said Tuesday that, it expected inflation rates to fluctuate over target, for a while, only to enter a falling trend in Q4 of 2010.

Yılmaz who delivered a speech in the opening of bank's General Assembly meeting said inflation rates would drop to projected levels in the first months of 2011.

He said the recent figures showed that economic recovery trend continued and domestic demand started to pick up gradually as implementation of the monetary policy started to bear fruits. He said however that uncertainty regarding foreign demand continued.

Yilmaz said that they would continue to closely monitor, pricing tendencies as the inflation rate would temporarily hover above the targeted levels. He said they would make a more extensive analysis of the course of inflation rates on April 29, the date CB will make public its monthly Inflation Report.

CB Governor said they would focus on establishing price stability in the term ahead.

He said a sound monetary policy was key to maintaining the economy's resistance to global risks noting however that it alone was not enough. He underlined the importance of commitment to maintaining the midterm fiscal discipline and strengthening structural reforms in this respect.


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Last Mod: 21 Nisan 2010, 14:09
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