Turk­ish in­fla­tion tar­get.

Kathimerini English - - Focus -

as­set man­age­ment com­pany said at a fo­rum in Athens on Tues­day. Ou­ra­nia Eka­teri­nari, chief ex­ec­u­tive at the Hel­lenic Cor­po­ra­tion of As­sets and Par­tic­i­pa­tions (EESP), told an Amer­i­can-Hel­lenic Cham­ber of Com­merce con­fer­ence there are three con­di­tions that must be ful­filled be­fore in­vestors boost the as­set com­pany’s rev­enues, which will go to­ward bol­ster­ing growth and cov­er­ing part of Greece’s dues to its cred­i­tors. She ex­plained to del­e­gates at the 29th Greek Econ­omy Con­fer­ence that the first con­di­tion is the re­turn of cred­i­bil­ity as re­gards state cor­po­ra­tions’ fi­nan­cial fig­ures and their five-year out­looks. The sec­ond is that the cor­po­ra­tions should have an open com­mu­ni­ca­tion pol­icy and be more out­ward-look­ing, while the third is that they start em­ploy­ing cor­po­rate gov­er­nance rules that pro­mote trans­parency and in­ter­nal mon­i­tor­ing.

Tur­key’s cen­tral bank said yes­ter­day it would stick with a 5 per­cent in­fla­tion tar­get, a deeply am­bi­tious goal af­ter this year’s cur­rency cri­sis sent the in­fla­tion rate soar­ing to a 15-year high of 25 per­cent. The bank said it would change its mon­e­tary pol­icy stance if ex­change rate moves had a last­ing af­fect on price sta­bil­ity, help­ing the lira gain nearly 1 per­cent against the dol­lar. It also stressed co­or­di­na­tion with govern­ment pol­icy in fight­ing in­fla­tion, say­ing its first ob­jec­tive was to bring down in­fla­tion to sin­gle dig­its, and then grad­u­ally re­duce it and sta­bi­lize it at around 5 per­cent. “If ex­change rate move­ments per­ma­nently af­fect price sta­bil­ity, the CBRT will change its mon­e­tary pol­icy stance and give the nec­es­sary re­ac­tion,” it said in its 2019 mon­e­tary and ex­change rate pol­icy doc­u­ment, re­leased yes­ter­day.

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