Turkish central bank says it will tighten until inflation outlook improves

ISTANBUL (Reuters): The Turkish central bank said on Monday the monetary tightening process is expected to continue until a significant improvement is achieved in the inflation outlook, after it began gradually raising interest rates last month.

In the minutes of its June 22 policy meeting, where it hiked its main rate by 650 basis points to 15%, the bank said the decision was the first step of a tightening process initiated to establish disinflation as soon as possible.