In front of a crowd in Turkey’s western Balikesir province, the Turkish president pledges to cut interest rates every month as long as Fei is in power.
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Turkish President Recep Tayyip Erdogan (archive)
Turkish President Recep Tayyip Erdogan vowed that the central bank would continue to cut interest rates every month as long as he was in power, following the bank surprised markets by cutting interest rates twice in the past two months.
“As long as your brother is in this position, the interest will continue to drop with each passing day… every week and every month,” Erdogan told a crowd in the western province of Balıkesir.
It is noteworthy that inflation rates have been increasing in Turkey since November of last year, while the value of the Turkish lira declined following the Central Bank cut interest rates in a series of unconventional measures, with the aim of easing monetary policy, which Erdogan had sought for a long time.
