Governor, Central Bank Durmus Yilmaz of Turkey

discipline and provide its own anchor.
Turkish Central Bank Governor Durmus Yilmaz said on Thursday that the Turkish government put the inflation target at 4 percent by the end of this year, the Anatolia news agency reported.
The studies indicate that inflation rate will be 3 percent, below the target at the end of the second quarter of 2008, Yilmaz was quoted as saying.
Attributing to the successful macro-economic reforms, Yilmaz is convinced that those reforms will further strengthen the basis of the Turkish economy and make it more solid against shocks.
We are saying that we see the possibility to cut rates and we are cutting them, Yilmaz said in a televised interview with broadcaster CNN Turk.
Yilmaz said he would not comment on the sum of a possible agreement with the international lender, but said that a new deal would bring about needed fiscal discipline.
rises and endanger Turkey's inflation target.
presentation of the bank's latest inflation outlook report.
accord, unless the next government imposes limits on spending.
down to 8 percent and even somewhere below that.
Speaking in Ankara, Yilmaz said inflation was expected to rise to 11.
Speaking to reporters, Yilmaz said he would adhere to the strict anti-inflation policies spelled out under an IMF-sponsored economic programme.
0 pct, Central Bank Governor Durmus Yilmaz said today.
Yilmaz said that under a second scenario drawn up by the bank, 2007 inflation would be between 3.
No central bank in its right mind can rejoice in the fact that it has missed its target two years in a row,” Mr Yilmaz said in an interview with the Financial Times.
Mr Yilmaz said he supported the idea in principle, but he suggested there were other issues that needed to be addressed, such as reforming Turkey’s commercial code and legal and accountancy systems, that would be of greater benefit to Istanbul than moving the central bank’s headquarters.
Durmus Yilmaz says global food production is increasing, but not quickly enough to meet this demand.
Yilmaz says food price hikes have been especially harsh in Turkey, accounting for 70 percent of all inflation last year, up from just 10 percent the year before.
Yilmaz was speaking to economists and bankers in Argentina Monday.
1 percent in 2007, Central Bank President Durmus Yilmaz said Monday.
Yilmaz said exchange rate fluctuations might lead to higher inflation in the immediate future, coupled with high oil and commodity prices, although this was expected to be temporary.
The latest developments in inflation confirm this,” Yilmaz said and added that it was possible inflation would exceed the official year-end target of 5 percent.
But Yilmaz said that 4 percent inflation target for the next two years was achievable.
quickly enough to meet this demand.
from just 10 percent the year before.
economists and bankers in Argentina Monday.
Turkey needs no IMF support, central bank governor says28/10/2008ANKARA, Turkey -- Central Bank Governor Durmus Yilmaz said on Monday (October 27th) the Turkish economy needs no financial support from the IMF for now.
But Durmus Yilmaz said that even without a strong guiding hand from the IMF, the country must preserve political stability following Sunday's general election, maintain structural reforms and adhere to fiscal discipline.
Yilmaz said Turkey still needed to maintain fiscal discipline and provide its own anchor.
Yilmaz said it would be no surprise if Turkey's current account deficit grew in the second half, but that in 2007 as a whole it would be lower as a proportion of gross national product than a year ago.
Yilmaz said if interest rates fell in the fourth quarter, he saw inflation at 5.
1 percent within the scope of the estimates in the recent inflation report," Turkish Central Bank Governor Durmus Yilmaz said on Thursday.
Yilmaz said Central Bank conducted a survey among financial and real sector representatives to assess inflation estimations, stating that, "according to the survey, the participants estimated year-end inflation as 7.
Yilmaz said Turkey implemented fluctuating foreign exchange rates regime, stating that, "Turkey has experienced 10 fluctuations since 2002.
NEW YORK - Turkish Central Bank Governor Durmus Yilmaz said that continuation of structural reforms in Turkey has vital importance.
Speaking at "Turkey After 2008" conference organized by Foreign Economic Relations Board of Turkey (DEIK) in New York on Monday, Yilmaz said that after the financial crisis in Turkey in 2001, Central Bank was made independent which was an important step.
4 percent in 2007, Yilmaz said that Turkey --among 60 developing and developed countries-- is the only country which recorded such a decrease in inflation rate.
Yilmaz said that inflation rate in Turkey as of February 2008 is 4.
Yilmaz said that CB attaches importance to price stability as well as fiscal stability.
Noting that Turkish economy has been growing since 2002, Yilmaz said that with 7 percent growth rate (annual average) Turkey is one of the fastest growing economies in the world.
Yilmaz said that export rate of Turkey which was 31 billion USD in 2001 increased to 107 billion USD in 2007.
Noting that continuation of structural reforms in Turkey is vital, Yilmaz said that first one of these reforms is social security reform.
Higher inflation means the bank will maintain its "tight stance'' on interest rates, Yilmaz said in the letter.
Yilmaz said he expected inflation to rise during summer, but the central bank would work to bring inflation to single digits by year-end.
Turkish Central Bank Governor Durmus Yilmaz has informed that stability in prices has not yet been maintained in the Turkish economy; however, inflation continues to fall, although the inflation rate may exceed the five percent target at the end of the year.
Yilmaz said that a major part of foreign debt belonged to the private sector in the country, responding a question on Turkeys external debts.
Yilmaz said achieving inflation figure of 4 percent depends on the course of food and energy prices.
Yilmaz said the fluctuation could have effects on Turkey's economy through trade, credit flows and capital investments.