Erdogan advises central bank to cut rates at meetings ...Kuwait

Turkish President Tayyip Erdogan said on Thursday he had advised the central bank to lower its policy rate at its upcoming meetings, a day after saying he expects interest rates to come down to single digits by year-end. Turkey's central bank cut its policy rate by 200 basis points to 12% in the last two months, delivering shocks to markets after inflation surged to 80% in August. The rate cuts are part of Erdogan's unorthodox policy of lowering rates to lower inflation. An easing cycle at the end of last year sparked a currency crisis stoking inflation, which is now at 24-year highs. Speaking at the general assembly of a merchants' confederation, Erdogan repeated his

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Erdogan advises central bank to cut rates at meetings ...Kuwait

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