Turkey to "monitor closely" second-round hikes
The minutes of the Central Bank of Turkey's November rate-setting meeting have revealed that the potential second round effects of rising food and energy prices will be closely monitored.
The central bank said that it would not react to the first round of increases in oil and food prices as it viewed these hikes as temporary but added that possible increases in electricity and natural gas prices "have compelled the Committee to be relatively more cautious."
To read the minutes, click here
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