Central Bank governor says rate cut remains option

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Business

Aug 09, 2011 12:00 am GMT+3

Aug 09, 2011 12:00 am

Turkish central bank Governor Erdem Başçı said on Monday that reducing interest rates, already at record lows after a cut last week, remained an option, but rates could go up or down depending on conditions.

Başçı also said that the year-end inflation rate could be closer to a targeted 5.5 percent, depending on commodity prices. The governor said adjustment to reserve requirement ratios on lira deposits will depend on the global environment. He said bank is ready to supply forex or lira liquidity if needed.

Last Update: Aug 09, 2011 8:54 am

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