Turkish president calls for further rate cuts

Recep Tayyip Erdogan
Photo: Flickr/US Department of Commerce

Turkish president Recep Tayyip Erdogan has said he hopes the country’s central bank will lower policy rates into single digits, again raising concerns over its independence.

Erdogan said he anticipates inflation will fall further next year, enabling the central bank to loosen its policy stance, Reuters reported on November 26.

“By triggering each other, inflation and interest rates will hopefully permanently fall to single digits in 2020,” he reportedly said. “When they hit single digits, the

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