Tuesday, July 29, 2014   

Turkish central bank hints of further rate cut
(06-16 19:59)

The governor of Turkey's central bank hinted that another small cut in interest rates is likely at the end of the month, deflecting calls by the government for quicker action.
''A measured, moderate and gradual rate cut is being priced in,'' Erdem Basci said in a speech in the cental city of Konya.
''We will do it as long as the Central Bank continues to believe that inflation will decrease. But we will do it with caution, without upsetting the balances, without destabilizing,'' he said.
Last month the central bank, which had ramped up rates to fight a currency crisis, shaved one key rate but was criticized for being timid by Prime Minister Recep Tayyip Erdogan.--AFP
   
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