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Turkish cenbank to tell government collective effort needed against inflation
January 26, 2016 / 9:03 AM / 2 years ago

Turkish cenbank to tell government collective effort needed against inflation

ANKARA, Jan 26 (Reuters) - Turkey’s central bank will tell the government in a letter that a collective effort is needed to lower inflation, Central Bank Governor Erdem Basci said on Tuesday as he announced the bank’s quarterly inflation report.

Deputy Prime Minister Mehmet Simsek, in charge of the economy, has said battling inflation will be this year’s main challenge. But a sharp rise in the minimum wage, hikes in electricity prices and taxes, and President Tayyip Erdogan’s preference for low rates to boost growth are all obstacles.

Basci also said he was happy with the relatively flat yield curve under the central bank’s current policy framework. Commercial loans were growing faster than consumer loans, he said, which would help price stability. (Reporting by Nevzat Devranoglu; Writing by Daren Butler and Ayla Jean Yackley; Editing by Nick Tattersall, David Dolan)

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