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flag Turkey's Central Bank vows to maintain tight policy to hit 24% inflation target by year-end.

flag Turkey's Central Bank Governor, Fatih Karahan, promises to do whatever it takes to meet the country's year-end inflation target of 24%. flag Annual inflation has dropped to 39.05%, down from over 75% last May, largely due to a decrease in the underlying trend and tight monetary policy. flag The bank has cut rates by 250 basis points to 42.5%. flag Karahan stresses the importance of maintaining this tight policy to continue reducing inflation.

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