Turkey to Keep Interest Rates High Until Drop in Inflation Is `Lasting'

(Bloomberg) -- Turkey's central bank said it plans to
keep interest rates high until it sees a ``lasting'' decline in
inflation.

``We're at a historic turning point in the fight against
inflation,'' bank Governor Durmus Yilmaz said at a conference in
the southeastern city of Gaziantep today. ``There's a danger of
tiring of the fight, but this would endanger all of the gains of
the last five years. Until inflation has been lowered in a lasting
way, we'll be keeping rates high.''


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