12/1/2021, 11:00 AM (Source: TeleTrader)
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Erdogan says will never support high interest rates

Turkish President Recep Tayyip Erdogan said in a speech on Wednesday that he will never support high interest rates.

"The world knows how uncomfortable I am with high interest rates. I've never been a high interest person," Erdogan stated.

Erdogan's stance that high interest rates are behind high inflation in the country recently led the lira to record lows. However, the Turkish currency rebounded slightly today as the dollar slid 4.49% compared to it to go for 13.09464 at 10:56 am CET.

Baha Breaking the News (BBN) / NP