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Turkey Central Bank Prepares for Action Against Inflation Risks
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Turkish Central Bank Governor Hafize Gaye Erkan expressed readiness to act if needed to tackle inflation risks. The bank has raised interest rates to combat soaring inflation, which currently stands at 64.77% annually. The central bank aims to maintain monetary tightness for sustained price stability and expects the tightening cycle to conclude soon.
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How might the raising of interest rates impact the Turkish economy in the short term?
What measures is the Turkish government taking to address the widening current account deficit?
What specific actions is the Turkish Central Bank considering to address inflation risks?
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