A BRSA is needed for real sector

Deputy Prime Minister Ali Babacan said that there should be a BRSA like structure for the real sector.

Deputy Prime Minister stating that steps should be taken for the reel sector finance, added that there should be a structure like Banking Regulation and Supervision Agency. Babacan said that there is not a crisis period in Turkey. “There is no need for a collective solution package. We experienced a period of market volatility. After the steps taken by the CBRT the volatility fell.” Said Babacan. Babacan said that CBRT’s policy of interest rate corridor prevents excess short term capital flows and is very accurate. “With the help of this Gezi events, Fed’s decisions and developments after the 17th of December did not cause lots of outflows because short term capital was not at high levels” he said.

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