Arab Today, arab today turkey pm hails central bank move expects further rate cut
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Turkey PM hails central bank move, expects further rate cut

Arab Today, arab today

Arab Today, arab today Turkey PM hails central bank move, expects further rate cut

Turkey's Prime Minister Ahmet Davutoglu
Ankara - AFP

Turkish Prime Minister Ahmet Davutoglu on Wednesday welcomed the central bank's decision to bring down a key interest rate as a step "in the right direction" and expected further cuts next month.
"The latest reduction in interest rate is a right decision," Davutoglu told a news conference a week after the central bank pruned the one-week repurchase rate to 7.75 percent from 8.25 percent, for the first time in six months.
On Tuesday, the bank's governor Erdem Basci hinted that the rates might be further cut during the monetary policy committee's next meeting, with a planned February 24 session likely to be brought forward to February 4.
"We all expect interest rates will be further lowered in the coming days and weeks," said Davutoglu. "And I believe that a decision will be made in this direction."
The central bank had aggressively raised interest rates last year to avert an economic crisis following a sharp drop in the value of the Turkish currency lira.
But Turkey's leaders including President Recep Tayyip Erdogan have increasingly pressed the bank to bring the rates back down  so as to stimulate growth ahead of general elections in June.
Davutoglu on Wednesday said the bank was independent but it was not completely "unattached" from the government because it serves as a "consultant" and briefs the cabinet twice a year.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey pm hails central bank move expects further rate cut Arab Today, arab today turkey pm hails central bank move expects further rate cut

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey pm hails central bank move expects further rate cut Arab Today, arab today turkey pm hails central bank move expects further rate cut

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday