Governor Basci sticks his neck out | beyondbrics

"

Some respite for the Turkish lira on Monday after a surprise statement by Erdem Basci, governor of the central bank, saying the bank would not allow global monetary and fiscal policy uncertainty to have an impact on “price stability and financial stability in Turkey”.

Has Basci joined the “interest rate lobby” so despised by prime minister Recep Tayyip Erdogan?

As Daniel Dombey wrote last week, Erdogan is desperate not to hike interest rates and sees the struggle not to do so as part of an elemental battle against outside forces plotting against his country."

'via Blog this'