Erdogan Says Interest Rates Will Fall After Inflation Slows By Bloomberg


© Reuters. Erdogan Says Interest Rates Will Fall After Inflation Slows

(Bloomberg) — President Recep Tayyip Erdogan said Turkey’s main objective is to reduce interest rates as inflation slows to official medium-term targets.

Thursday’s interest rate hike by the nation’s central bank is part of “bitter pill policies” that Turkey must follow, Erdogan told a group of businessmen in televised remarks from Istanbul on Friday.

While the Turkish leader renewed his tacit approval for the recent return to more orthodox monetary policies, he also repeated his widely discredited belief that higher interest rates fuel inflation. Most economists and central bankers around the world say the opposite is true.

The was little changed after Erdogan’s remarks and was trading 0.7% lower at 7.6029 per dollar at 12:17 p.m. in Istanbul.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here