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Turkey to move central bank

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January 10, 2008

ANKARA, Turkey—Turkey's Central Bank will be moved to Istanbul as part of plans to make the city an international trade hub, the prime minister announced Thursday.

"We are considering the good of the nation, our concern is how to make the country's economy more powerful," Prime Minister Recep Tayyip Erdogan told a news conference where he announced his government's plans for the year. Erdogan did not say when the move will be completed.

The central bank administration has publicly opposed shifting the bank from the capital Ankara but the business world backed a move to Istanbul, the center of the country's growing economy.

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