05 Ocak 2016 Salı 08:40
Simplification steps could start after next meeting: CB

Central Bank could start simplification steps in monetary policies in a bid to ease global volatilities, beginning from the upcoming Monetary Policy Board meeting if the decline in volatility is persistent, said Central Bank Governor Erdem Başçı.

Başçı has underlined advancing current account balance and stressed the increase in demand across European Union countries have been supporting economic growth and stabilization, in his presentation on macroeconomic outlook and monetary policies.

While noting structural reforms announced by the government could prove a significant advancing in economic growth potential if they are applied, Erdem Başçı told the existing monetary policy stand was strict against the inflation outlook and supportive to financial stability, balancing the foreign currency liquidity.

Başçı reiterated the tight stand in monetary policy would remain until significant improvement in inflation outlook is achieved.

Turkey's Central Bank has defied expectations it would raise rates in tandem with the U.S. Federal Reserve and left interest rates unchanged, on Dec. 18.

The Monetary Policy Board's meeting is expected to be held in Jan. 19.

A summary statement on the upcoming meeting said developments in energy prices have been influencing the inflation positively, while cumulative foreign currency rate movements keep back the improvement in core inflation tendency. In this perspective, the core inflation indicators are expected to retain high levels for a longer while.

 

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