Central Bank will intervene in the exchange rate if necessary
Güncelleme Tarihi:
Oluşturulma Tarihi: Haziran 09, 2006 13:22
Speaking at a conference on Thursday, Central Bank Governor Durmus Yilmaz said that interest pressure would continue as long as interest rates continue to rise in the international markets. Saying that the CB would watch the results of its interest hike decision, Yilmaz stressed that it would intervene in the exchange rate if necessary.
Yilmaz stated that inflation target was determined with the government and that the implementation of inflation targeting was under the government’s control. “A revision in the inflation target is out of the question for now,” he said. “With our interest hike decision, we’re trying to get closer to the target.” Commenting on the current account deficit, Yilmaz predicted that as long as the economic program continues the deficit couldn’t possibly pose any risk.