June 3, 2018 / 9:19 AM / a year ago

Concerns over Turkish monetary policy addressed in London meetings: deputy PM

FILE PHOTO: Turkish Deputy Prime Minister Mehmet Simsek attends a joint news conference with European Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen (not pictured), at the European Commission headquarters in Brussels, Belgium, December 8, 2017. Reuters/Eric Vidal

ISTANBUL (Reuters) - International concerns about Turkey’s monetary policy were largely addressed during meetings with investors in London last week, Deputy Prime Minister Mehmet Simsek said on Sunday.

“That is very clear. Hence, fund inflows have started,” Simsek said in an interview broadcast on Kanal7 television.

The central bank hiked interest rates by 300 basis points to 16.50 percent in an emergency meeting last month to prop up Turkey’s plummeting lira currency.

Reporting by Ezgi Erkoyun; editing by John Stonestreet

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