Turkish banks association see no risk of inflation in Turkey

Banks Association of Turkey (TBB) has said that it does not see any future risk of inflation in Turkey for the future.

Chairman of the TBB, Huseyin Aydin, speaking in Istanbul, has said that the association did not expect to see any inflation above the projected levels. He said: “Turkey’s macro-economic figures have a positive course, and we think that fragility will be so limited in such a positive economy.”

Aydin also noted that there would always be a foreign demand in the Turkish banking industry, and that the banks did not have a short position. Aydin also expressed that Turkey had been more affected by global developments than domestic developments; however the Turkish lira had a stable course of development in the last decade. Aydin’s comments follow comments from the Turkish Prime Minister that the Turkish economy is safe from the Europe crisis.

The economy of Turkey is currently experiencing a great period of time and was recently noted by the President of the World Bank as an example for the rest of the world to follow. Reasons for this include the strong Turkish property market and the recent strong Turkish Lira against the rest of a struggling Europe.

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