Turkish president Recep Tayyip Erdoğan plans to exert tighter control over interest rates in Turkey, should he cement his power with an election victory next month.
“We have to give off the image of a president who is influential on monetary policy,” Erdoğan said in an interview today (May 15), sending the lira plunging.
Speaking to Bloomberg during a visit to London, he said tighter presidential control over interest rates “may make some uncomfortable” but “we have to do it”.
Turkey will hol
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