Turkish governor explains September rate cut

Durmus Yilmaz, the governor of the Central Bank of Turkey, on Friday explained why the central bank decided to make a surprise rate cut in September.

The governor said the central bank cut rates by 25 basis points because of:

favourable developments in inflation;

moderate domestic demand conditions; and

changes in international credit conditions.

Yilmaz also spoke about the central bank's monetary policy stance and its communication policy.

To view the presentation that accompanied the speech

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