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Erdogan trains against interest rate increases – Lira under pressure again

Erdogan trains against interest rate increases – Lira under pressure again

President Erdogan

The head of state urged all Turks to have confidence in their currency. You have to exchange all savings in Lira.


(Photo: Reuters)

IstanbulAfter the interest rate hike in Turkey, President Recep Tayyip Erdogan again strongly criticized the central bank. His patience has limits, he said on Friday for representatives of the ruling AKP about the interest rate policy of the monetary authorities.

On Thursday, against the declared wish of the head of state, they had powerfully increased the key monetary policy rate by 6.25 percentage points to 24 percent. The central bank had not reached its inflation target within 15 years, Erdogan said, who had harshly condemned the work of the monetary authorities shortly before the interest rate decision.

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