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CBRT Reiterate That Rates are "Adequate"

TURKEY
Very few changes in the policy statement compared to the April edition. Here are some selected highlights:
  • The Committee assessed that the current monetary policy stance is adequate to support the necessary recovery in the aftermath of the earthquake by maintaining price stability and financial stability.
  • Recent data show that economic activity in the earthquake zone has been recovering faster than expected, and it is becoming evident that the earthquake will not have a permanent impact on performance of the Turkish economy in the medium term.

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