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The Central Bank of Turkey kept the main interest rate unchanged at 37%, continuing its strict monetary policy approach to combat the high inflation rate, which reached 32.11% in June, with expectations of falling to 24% by the end of 2026. It indicated that inflation is currently influenced by rising energy prices and geopolitical developments, with ongoing monitoring of the impact of these factors on costs and economic activity. The bank will continue to use strict monetary policy tools to ensure price stability and reduce inflation, and is prepared to tighten policies further if inflation expectations deteriorate significantly and persistently.
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