Turkey committed to rate-cutting policy, says deputy minister says

turkey committed to rate cutting policy says deputy minister says

Sumary of Turkey committed to rate-cutting policy, says deputy minister says:

  • — Reuters pic ANKARA, Nov 26 ― Turkey is determined to continue a policy of interest rate cuts, and “manipulative attacks” on the lira, which has plunged to all-time lows this week, will not leave any lasting damage, Deputy Finance Minister Nureddin Nebati said late yesterday.
  • “We need to evaluate Turkey’s economy from a bigger window, rather than a narrow perspective only taking the exchange rate as a basis,” Nebati said on Twitter.
  • ” Nebati’s boss, the Treasury and Finance Minister Lutfi Elvan, who is seen as a moderate, has kept mostly out of the spotlight in recent months and there has been speculation he could be ousted, though the Palace has not commented.
  • Nebati added that the easing would provide stimulus to the economy to boost employment and exports, while tackling the current account deficit.

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