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

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.

 

Reuters