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Simsek Says Monetary Adjustments Will Continue

TURKEY

Comments from Simsek at an Atlantic Council interview in Morocco have been crossing wires. Below are some highlights (via BBG):

  • Fiscal adjustment done, monetary adjustment continues
  • At least a year needed for concrete results
  • Says allowing lira to float was inflationary short-run
  • Cites aim to moderate domestic demand
  • We'll go back to rule-based policies
  • We'd like to exit FX-protected deposit scheme

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