January 30, 2019 / 2:17 PM / 6 months ago

Turkish cenbank says to use all tools for price stability objective

ANKARA, Jan 30 (Reuters) - Turkey’s central bank will continue to use all available instruments in pursuit of its price stability objective, the bank said in an open letter to the government on Wednesday.

The bank also said the deterioration in the lira currency and the resulting deterioration in pricing behaviour were the main factors that caused inflation to overshoot its 2018 targets.

Earlier, the bank said it will maintain its tight monetary stance until it is convinced that inflation is falling and will tighten further if necessary, after trimming its 2019 inflation forecast. (Reporting by Tuvan Gumrukcu and Ece Toksabay)

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