Nov 17 2017

Erdoğan says central bank 'on wrong path'

Turkish President Recep Tayyip Erdoğan criticized the central bank for being "on the wrong path" as he called for lower interest rates to help stimulate growth.

Erdoğan, who repeated that high interest rates cause inflation, said the central bank's failure to meet its goals showed its policies weren't working, according to Hürriyet newspaper.

"They say the central bank is independent, so don't interfere. We've come to this point because we haven't interfered. The picture is clear."

He made the comments in a speech to party members in Ankara on Friday, Hürriyet said.

 

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