Turkey’s Erdogan stands by opposition to high interest rates


ISTANBUL (Reuters) – Turkish President Tayyip Erdogan stood by his opposition to high interest rates on Sunday despite sharp falls in the currency, saying the lira’s weakness did not reflect the country’s economic realities.

Turkish President Tayyip Erdogan addresses members of his ruling AK Party in Rize, Turkey August 11, 2018. Murat Kula/Presidential Palace/Handout via REUTERS

Speaking to supporters in Trabzon on the Black Sea coast, Erdogan dismissed suggestions that Turkey was in a financial crisis like those seen in Asia two decades ago, dampening expectations of a rate rise to…



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