Fed's Evans: Inflation expected to remain below 2% for some time

FXStreet (Łódź) - Chicago Fed President Charles Evans said on Monday in Istanbul that US inflation should remain below the 2% target for some more time and that the Fed's current accommodative monetary policy seemed the most appropriate approach. He pointed out that wages in the US were growing at a steady pace.

Evans also stressed the importance of central bank independence. Recently Turkish Prime Minister Recep Tayyip Erdogan has been exerting pressure on the country's central bank to cut rates in order to boost growth, after forcing it at the beginning of the year to hike after the lira plunged on reports of a government corruption scandal.