Growth rate prediction: "4 percent minimum"
Turkish CB Governer Erdem Basci has stated that they predict the growth rate in 2013 to be minimum 4 percent.


Basci referred to the expected minimum growth in 2013 and said, "We are expecting a better growth in 2013. More or less, most of the institutions agreed that there will be a 4 percent of growth rate in 2013. The technical reason for that is, in 2012 economy only grew with the contributions of exports. However, in 2013 we will see the balanced contributions of exports and domestic demand."
Basci highlighted the predictions of growth rate in 2013 and said, "There will be a significant increase in the fourth quarter. It will be visible in November. Our works are going well. Slowdown has ended and the growth regains pace now."
Furthermore, upon a question of a reporter "Where are you planning to limit the increase rate in the loans of Central Bank?", Basci replied, "Loans rose a little bit more than what we predicted. It was a prediction in the end. If necessary, we will make slight adjustments with political tools and make it closer to those predictions. The subject limitation is not matter, it is beside the point."

CB close to its inflation rate target

Turkish Central Bank expects inflation rate to be close to its 5 percent target this year.

Turkish Central Bank expects inflation rate to be close to its 5 percent target this year.
Turkish Central Bank Governer Erdem Basci explained on Tuesday the "2013 Monetary Policy" and stated that the main aim of Central Bank was to stabilize price.
He focused onto the inflation targeting framework which took start in 2001 and stated, "We are close to our 5 percent target this year. The lowest year-end inflation rate since the framework started might happen this year."
He added that if they reach their 5 percent aim this year, it will be much easier to target the same one next year.
Furthermore, Basci stressed that mid-term program of 2015 inflation target was stated as 5 percent and said, "We are officially declaring it today. Therefore, we wish the inflation rate to be close to 5 percent in the next three years."

Last Modified: 2012-12-26 10:21:29
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