ECB, Turkish central bank to cooperate

(FRANKFURT) - The European Central Bank said Wednesday it has signed a memorandum of understanding to boost cooperation with Turkey's central bank.

The heads of the two central banks -- ECB chief Mario Draghi and his Turkish counterpart Erdem Basci -- signed the memorandum on the occasion of a visit by Basci to the ECB's headquarters in Frankfurt, it said in a statement.

The memorandum "lays the ground for continued cooperation in the field of central banking through regular dialogue at technical and policy level and the possibility of staff exchanges," the statement said.