Tight monetary conditions until sustained fall in inflation (Il Sole 24 Ore Radiocor) - Ankara, 20 Aug - The Turkish central bank said its monetary policy committee has decided to keep the policy rate - the one-week repo auction rate - constant at 50%.

"The tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range. Monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen," the bank said.

"Taking into account the lagged effects of monetary tightening, the Committee will make its policy decisions so as to create the monetary and financial conditions necessary to ensure a decline in the underlying trend of inflation and to reach the 5 percent inflation target in the medium term," it added.

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(RADIOCOR) 20-08-24 14:14:55 (0315) 5 NNNN