Turkey’s monetary policy will depend on fiscal caution, central bank says

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The Central Bank of the Republic of Turkey

Policy-makers from the Central Bank of the Republic of Turkey (CBRT) have warned they may further tighten monetary policy if the government deviates from promises to keep its finances in check.

According to the minutes of the March 6 policy decision, members of the monetary policy committee said their decision to hold rates assumed fiscal policy would focus on “price stability and macroeconomic rebalancing”.

“If the fiscal policy significantly deviates from this framework leading to an adverse

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