Babacan boosts lira, plays down inflation

Speaking to an audience at an economic conference held at the Central Bank yesterday, State Minister for the Economy Ali Babacan predicted that the new Turkish lira would not depreciate due to inflation, adding that he was pledging this. Babacan added that the YTL was a currency of both Europe and the world and that it wasn’t easy for it to depreciate. He further predicted that inflation would be less than 8% by year’s-end. Â