By Akin Nazli in Belgrade The monetary policy committee (MPC) of Turkey’s central bank on August 20 kept its policy rate unchanged at 50% in line with market expectations (chart). The decisiveness shown with the tight monetary stance will bring down the underlying trend of monthly inflation through a moderation in domestic demand, a real appreciation in the Turkish lira and an improvement in inflation expectations, the authority reiterated. The tight monetary policy will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed and inflati…