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Turkish Cenbank governor says elevated inflation needs tight policy

FILE PHOTO: Turkey's new Central Bank Governor Sahap Kavcioglu sits at his office in Ankara, Turkey March 21, 2021. Turkish Central Bank/Handout via REUTERS

ANKARA (Reuters) - Turkey’s new Central Bank Governor Sahap Kavcioglu said current elevated levels of inflation require tight policy to ensure continued disinflation.

Speaking at the bank’s annual general assembly meeting, Kavcioglu said the policy rate will remain above inflation until the fall in inflation is permanent.

He said the one-week policy rate will be the main policy tool and policy tools will be used “in an appropriate way”.

Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Dominic Evans

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