Turkish Central Bank Chief: No Sign of Overheating in Economy

Turkey’s economy will continue to grow at a strong rate but there is no sign of overheating yet, Turkish Central Bank governor Erdem Basci said in a presentation published on the bank’s website.

Measures taken by the bank are keeping private sector debt under control, he added.

The central bank introduced an unorthodox new policy mix in late 2010 combining lower interest rates to deter foreign inflows with higher required reserve ratios to slow rampant loan growth in Turkey which has driven up external deficits.

SOURCE: SABAH ENGLISH
Updated : 27.04.2011 12:25