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Karahan Reiterates CenBank's Commitment to Tacking Inflation

TURKEY
  • Central bank Governor Fatih Karahan promised to do “whatever it takes” to curb inflation and signaled further monetary tightening if needed, Bloomberg reported according to people with direct knowledge of the matter.
  • The comments came from an event organised by JPMorgan in Washington earlier this week, where Karahan emphasised that the central bank stands ready to do more, despite already exceeding market expectations on tightening, the people said. The event was closed to the press.
  • Additionally, the governor said that the central bank would pursue additional tightening if it foresaw a significant and persistent deterioration in the inflation outlook.
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