[ad_1]
Turkish President Recep Tayyip Erdogan has criticized the central bank for the sharp rise in interest rates.
He said the country would "see the results" of the bank's independence.
The bank raised its key rate from 17.75% to 24% to stem a currency crisis.
Here you will have your independence. We will see the results of independence.
Recep Tayyip Erdoğan
The move suggests that he is reaffirming his independence despite pressure from Erdogan to keep rates low.
Addressing the leaders of his ruling party on Friday, Erdogan said, "This is your independence. We will see the results of independence.
Erdogan said his "patience" with the bank would have its limits.
He reiterated the assertion that Turkey's foreign exchange problems were part of a foreign conspiracy set in motion because Turkey had not "responded" to US demands.
[ad_2]
Source link
