Turkish inflation target.
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.