PM Erdoğan slams Turkish Central Bank over interest rate cut

PM Erdoğan slams Turkish Central Bank over interest rate cut

Turkish Prime Minister Recep Tayyip Erdoğan is apparently someone not worried about central bank independence. Speaking to a group of reporters in Germany he was happy to state his opinion of recent central bank policy: “You raised the interest rate by 5 points all at once, but now you reduce by only half point. Are you kidding?” Erdoğan said. He went on to slam the central bank policy that has seen rates rise sharply at the end of January to combat a fall in the Turkish Lira to record lows amid an emerging markets sell-off and a corruption scandal.

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