Turkish President Recep Tayyip Erdoğan has received Central Bank Chief Erdem Basci and deputy Prime Minister Ali Babacan to discuss latest economical developments in the country.
Basci has presented a road map including ways to reduce inretest rates, during the two-hour meeting at the Presidental Palace on the outskirts of Ankara.
The 130-page presentation has focused on restoring confidence in the economy and on limiting public debt.
The President’s office said the meeting has mainly focused on improving new policies for a strong and balanced economic growth. “The president showed sensitivity to issues of interest rates and production," the statement said.
The Turkish lira gained against the dollar ahead of the meeting, rising to about 2.610 to 2.640 on Wednesday night, as international investors regained confidence that the central banker and the president had come to an agreement.
The President has hosted the central bank chief and the pointman on the economy policy in an apparent attempt to heal a rift over his recent contreversial remarks on monetary policy.
Erdoğan has been highly criticital of the central bank for its tight money policy. The Wednesday’s meeting shows the head of the state is ready for a new chapter of cooperation with Basci in the future.
The presentation comes after Prime Minister Ahmet Davutoglu huddled with nine cabinet members, banking regulators, and the central bank chief to discuss the government’s polict on the ecomony.
After the Tuesday’s meeting, rhe prime minister’s office said the central bank has taken the necessary measures to control inflation and the government would ensure strict fiscal discipline in its medium-term economic program.
