Turkish CB governor expects inflation rate to stay 5 pc in three years

Turkish Central Bank Governer Erdem Basci stated that the main aim of Central Bank was to stabilize price.

Turkish CB governor expects inflation rate to stay 5 pc in three years

World Bulletin / News Desk

Turkish Central Bank expects inflation rate to be close to its 5 percent target this year. Turkish Central Bank Governer Erdem Basci explained on Tuesday the "2013 Monetary Policy" and stated that the main aim of Central Bank was to stabilize price.

He focused onto the inflation targeting framework which took start in 2001 and stated, "We are close to our 5 percent target this year. The lowest year-end inflation rate since the framework started might happen this year."

He added that if they reach their 5 percent aim this year, it will be much easier to target the same one next year.

Furthermore, Basci stressed that mid-term program of 2015 inflation target was stated as 5 percent and said, "We are officially declaring it today. Therefore, we wish the inflation rate to be close to 5 percent in the next three years."

Last Mod: 25 Aralık 2012, 11:29
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