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TURKEY: CBRT Maintain Meeting-by-Meeting Guidance

TURKEY

Highlights from the policy statement:

  • Core goods inflation, however, remains relatively low. Indicators for the last quarter suggest that domestic demand stands at disinflationary levels.
  • While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process.
  • The tight monetary stance will be maintained until price stability is achieved via a sustained decline in inflation […] the policy rate will be determined in a way to ensure the tightness required by the projected disinflation path taking into account realized and expected inflation, and the underlying trend.
  • The Committee will make its decisions prudently on a meeting-by-meeting basis with a focus on the inflation outlook.
  • Monetary policy tools will be used effectively in case a significant and persistent deterioration in inflation is foreseen.

Full release here.

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Highlights from the policy statement:

  • Core goods inflation, however, remains relatively low. Indicators for the last quarter suggest that domestic demand stands at disinflationary levels.
  • While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process.
  • The tight monetary stance will be maintained until price stability is achieved via a sustained decline in inflation […] the policy rate will be determined in a way to ensure the tightness required by the projected disinflation path taking into account realized and expected inflation, and the underlying trend.
  • The Committee will make its decisions prudently on a meeting-by-meeting basis with a focus on the inflation outlook.
  • Monetary policy tools will be used effectively in case a significant and persistent deterioration in inflation is foreseen.

Full release here.