Turkey faces global inflation risk: Central Bank

Yilmaz said supply shocks which have been continued for a long time made a negative impact on inflation expectations.

Turkey faces global inflation risk: Central Bank
Turkey has faced a global inflation risk currently, governor of Turkish Central Bank said on Wednesday.

Speaking at the 15th World Congress of the International Economic Association in Istanbul, Central Bank Governor Durmus Yilmaz said increase observed in inflation figures in several countries threatened economic stability.

"If there is a high inflation rate in an economy, there will be no economic stability and sustainable growth cannot be secured without economic stability," Yilmaz said.

Yilmaz said supply shocks which have been continued for a long time made a negative impact on inflation expectations.

There was a need to tighten the monetary policy gradually against these shocks, he stated.

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Last Mod: 25 Haziran 2008, 17:18
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