Turkish C.Bank to step up measures against current account deficit

Turkish Central Bank Deputy Chairman Erdem Basci said on Monday that the bank would step up measures against current account deficit.

Turkish C.Bank to step up measures against current account deficit

Turkish Central Bank Deputy Chairman Erdem Basci said on Monday that the bank would step up measures against current account deficit.

Basci addressed a panel discussion organized by Turkish Economy Association on Saturday.

Speech of Basci, titled, "Capital Movements and Exchange Rate Policies", was aired on the web-page of the association on Monday.

In his address, Basci said the additional measures taken by the bank recently should be considered as preparation against the conjuncture which they thought would have influence over the world in the next period.

Basci said, "it is not possible for Central Bank to stop expansion in current account deficit by using only short term interest, which is a policy support instrument."

Basci also gave information about financial stability measures and said the measures aimed at directing both the bank deposits and foreign capital inflow to long term.

Basci said the drop in long term interests should be limited over the drop in short term interests.


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Last Mod: 13 Aralık 2010, 13:28
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