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Turkey holds rate but softens hawkish policy stance       Turkey's central bank maintained its key interest rate and "tight monetary policy stance," as widely expected, but dropped its earlier commitment of maintaining this tight stance for an extended period, signaling a slight softening of its hawkish tone.       Instead of its previous pledge of keeping a tight policy stance "decisively" and for an extended period, the Central Bank of the Republic of Turkey (CBRT) today said it would use "decisively" all instruments in pursuit of price stability and the policy rate would be set abov...

Turkey raises rate 3rd time to eliminate risks to inflation        Turkey's central bank raised its policy interest rate for the third time this year, and for the second time under its new governor, in what it said was a "strong monetary tightening" to eliminate the risks to the outlook for inflation and reiterated it would "decisively" maintain tight monetary policy until there is a permanent fall in inflation.       The Central Bank of the Republic of Turkey (CBRT) raised its one-week repo auction rate by another 200 basis points to 17 percent and has now raised it by 825 points fol...