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“Current tight monetary policy stance will be maintained decisively until the significant fall in the April inflation report’s forecast path is achieved,” the Central Bank of the Republic of Turkey (CBRT) said in a statement on Friday.

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“Rate continues to be determined at a level above inflation to maintain a strong disinflationary effect.”

“Use decisively all available instruments.”

‘Repeats decelerating impact of the monetary tightening on credit and domestic demand has begun to be observed.”

Separately, Turkish Finance Minister Lutfi Elvan said that the government will not give up on our inflation target for short-term gains.

“Decisive stance and policies will help bring down inflation expectations,” he added.

Read:  Turkey:  CBRT  leaves policy rate unchanged at 19% as expected