"Babacan: There is no change in inflation target
EkoTürk News Agency / Ankara
Babacan replied to the questions regarding the agenda. Noting that he was always avoiding from saying “wrong” for an exchange rate formed in the free market, Babacan said: “If the exchange rate formed in the market is really set up in market conditions, then this rate is an accurate one. No one should have any doubts.”
Underlining that one of the most important benefits of the free exchange rate regime is that it has an absorbing function against the capital flows during the fluctuations, Babacan said: “If we look at all economic indicators and structure, we may see that the free exchange rate regime in Turkey is a significant mechanism that absorbs the external shocks. We have observed during the last 3.5 years that this mechanism functions well.”"
More:The New Anatolian
