Nov 23 2017

Turkish central bank ready to raise rates - Erdoğan adviser

Turkey's central bank may act at any time to stem inflationary pressure, said Cemil Ertem, a chief economic adviser to President Recep Tayyip Erdoğan.

The Ankara-based bank could decide to raise the interest rates it levies in its late liquidity window, Ertem told Turkey's NTV television in an interview.

The central bank will put a stop to speculation being made on the back of dirty news. Let nobody put itself in the place of the central bank by expressing views. The central bank is following a very flexible monetary policy.

 

The bank could call an emergency meeting of its Monetary Policy Committee at any time, he said.

The lira weakened to as low as 3.98 lira per dollar this week amid political tensions with the United States and speculation that the central bank would not act to arrest the currency's slide, which is stoking inflation

To read the interview in Turkish