The central bank’s policy committee emphasized that further tightening would be implemented as necessary until a significant improvement in the inflation outlook was achieved. The central bank’s governor, Hafize Gaye Erkan, is expected to meet with a group of bank executives to discuss sector-related issues. The central bank’s key rate remains lower than deposit rates, which can reach up to 40 percent, resulting in deeply negative real rates. [JPMorgan expects Turkey central bank to lift rates to 25% on June 22](https://business.inquirer.net/326447/jpmorgan-expects-turkey-central-bank-to-lift-rates-to-25-on-june-22)2. [Turkey central bank’s net forex reserves negative for first time since 2002](https://business.inquirer.net/326436/turkey-central-banks-net-forex-reserves-negative-for-first-time-since-2002)3.
