Turkey Has 'Done Enough' to Tighten Monetary Policy, Simsek Says.

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      Turkish Treasury and Finance Minister Mehmet Simsek stated that Turkey has already taken sufficient measures to tighten monetary policy, despite predictions from global banks that further interest-rate hikes may be necessary due to worse-than-expected inflation. Simsek mentioned that additional selective credit tightening and quantitative tightening steps are being planned, and that Turkey is currently in a transition period. This perspective contrasts with some market views, as economists at JPMorgan Chase & Co. now predict a rate hike of up to 500 basis points in April. The central bank has already implemented significant rate increases, but has not ruled out further tightening if inflation worsens. [Extracted from the article]
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