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ISTANBUL, April 30 (Reuters) - Turkey’s central bank is moving closer to its long-stated target of simplifying its complex system of monetary policy, where it uses multiple rates, Governor Murat Cetinkaya said on Monday.
“I think we are close to the final step on simplification,” Cetinkaya said at the release of the bank’s regular inflation report on Monday. He said that simplification remains a target for the bank. He also described last week’s rate hike as a “measured” step. (Reporting by Ece Toksabay and Nevzat Devranoglu; Writing by David Dolan)