Erdogan Says Interest Rates Will Fall After Inflation Slows

Erdogan Says Interest Rates Will Fall After Inflation Slows

Bloomberg  | Nov 20, 2020 09:45

Erdogan Says Interest Rates Will Fall After Inflation Slows

(Bloomberg) -- President Recep Tayyip Erdogan said Turkey’s main objective is to reduce interest rates as inflation slows to official medium-term targets.

Thursday’s interest rate hike by the nation’s central bank is part of “bitter pill policies” that Turkey must follow, Erdogan told a group of businessmen in televised remarks from Istanbul on Friday.

While the Turkish leader renewed his tacit approval for the recent return to more orthodox monetary policies, he also repeated his widely discredited belief that higher interest rates fuel inflation. Most economists and central bankers around the world say the opposite is true.

The lira was little changed after Erdogan’s remarks and was trading 0.7% lower at 7.6029 per dollar at 12:17 p.m. in Istanbul.


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Michael Song
Michael Song

this guy is a radical Islamist totally disconnected from reality..he ruined his country and poses threat not only to well being of Turks but also other nations as well..  ... (Read More)

Nov 20, 2020 11:45 GMT· 1 · Reply
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