Gazi Ercel on Turkey's disinflation programme

Central Bank Governor Gazi Ercel said on Feb. 7, 2001 that important benefits had already been obtained from the disinflation program which was put into practice with a three-year perspective.Releasing a statement on "monetary policy implementation in coming period", Ercel said that the inflation rate had reduced for the first time to 2.3 percent in wholesale prices and 2.5 percent in consumer prices in January of 2001 after a long period of time.

Noting that the decreasing trend in inflation