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Turkish banks association does not see any inflation risk
  29.07.2011


Banks Association of Turkey (TBB) said on Wednesday that it did not foresee any inflation risk in the country. TBB´s Chairman Huseyin Aydin said that the association did not expect inflation to be above projections.



 


"Turkey's macro-economic figures have a positive course, and we think that fragility will be so limited in such a positive economy," Aydin told a press conference in Istanbul.

Aydin said that there would always be foreign demand in Turkish banking industry, and banks did not have a short position.

Moreover, Aydin said Turkey was affected by global developments more than domestic developments, however Turkish lira had a stable course in the last decade.

On Monday, the Turkish Central Bank halted its daily foreign exchange buying auctions after U.S. dollar and euro hit record highs against the Turkish lira.

The bank also said it reduced required reserve ratios for foreign-exchange deposits with maturities of one-year and longer.

 

  
  

Source : en.cumhuriyet.com
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