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Growth at Cost of Inflation Unacceptable: Turkish Industrialist

TURKEY
  • Industrialists are having trouble foreseeing the future due to changes in inflation, exchange rates and interest rates, Erdal Bahcivan, head of the Istanbul Chamber of Industry, says
  • An inflationary growth structure is unsustainable
  • Turkey moved away from the key central bank goal of price stability while financial stability has been put at risk
  • "Even though we all want interest rates to fall, there are pricings that occur in the free market"
  • Positive impact of low rates would be short-lived unless uncertainties are removed, confidence and predictability are boosted
  • Export rise due to weakening lira won't bring long-term success
  • "We don't want to be industrialists/exporters who rely on devaluations"
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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