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MNI CBRT Preview - January 21: Rates Sufficient at 17%, Despite Erdogan Overtures

The CBRT under Agbal has been making all the right noises about a sustained tightening of policy to permanently reduce inflation, dollarisation and help rebuild reserves without selling FX. Although de-dollarisation has been slow, the key component of Agbal's policy shift was credibility and simplicity built on the premise that Erdogan had given him full rein over policy to make hard, but vital decisions to achieve price stability and anchor expectations.

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CBRT 21 Jan 21.pdf

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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