Central Bank Governor Başçı announces monetary policies for 2013

At a meeting of monetary and exchange rate policy for 2013 Governor Başçı, announced plans for the future.

Chairman of the Central Bank gave information about their expectations of inflation and growth and he announced their inflation forecast for 2015, officially.

In the press conference aimed to explain Monetary and Exchange Rate Policy for 2013, Central Bank Governor Erdem Başçı said the main objective of the Central Bank was to maintain price stability.

Başçı who said they estimated the inflation in 2012 would be below 6,5 percent, reminded it had been unveiled that inflation was announced as 5 percent in Medium Term Program and added “We are officially announcing it now. Hence we want it to occur close to 5 percent during the next 3 years.

Growth forecast

Başçı said “We expect a growth rate of 4 percent and over in 2013. Export oriented growth has been realized in in 2012. We expect a growth based on both exports and domestic demand, in 2013”.

Everyone should manage their risks well

Başçı who stated that they would continue to implement floating exchange rate regime in 2013 went on as follows;

“I mean one should not say the Central Bank is supposed to decrease the wavelength of foreign currency fluctuations so I will take risk. You never know what will happen in the world. Everyone is to do proper risk management. We will do our best, we always do. But everybody should do good rsik management.”

26.12.2012
BUSINESS TURKEY TODAY