Government Take Steps To Contain Demand Without Raising Interest Rates

News: Turkey is taking steps to keep a check on domestic demand without opting for raising interest rates, supporting the current monetary policy stance of the central bank, according to Finance Minister Mehmet Simsek. 'The central bank, banking watchdog, finance ministry and treasury got together, we limited loan growth with capital adequacy ratios and macro prudential measures, without resorting to rate hikes,' Simsek said in an interview with CNN Turk (Reuters). The local currency has come under immense pressure since the US has decided to wind down or slash its US$85bn a month money-printing programme.

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Geography: Turkey

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