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Erdogan angry and frustrated[/size]
Twilight News
3 hours ago
Erdogan angry and frustrated[/size]
Twilight News
3 hours ago
The Turkish lira fell to a record low against the dollar on Thursday on renewed concerns over the central bank's ability to tackle inflation following a news report that President Recep Tayyip Erdogan attacked officials at the central bank.
The Turkish currency fell briefly to a record low of 4.0501 lira before recovering slightly to 4.0495 lira at 20:07 GMT.
According to the daily "Hurriyet Daily News", Erdogan accused the Central Bank of Turkey of "working behind" in terms of interest rate policy.
The newspaper said Thursday that Erdogan, during a closed meeting of his ruling Justice and Development Party (AKP), had criticized the interest rate hike recently.
"The central bank raised rates when I was abroad, they did not work with the decision we made together, they did something behind me," Erdogan told a meeting on Monday (April 2nd). Well, we are the ones who pay for their decisions. "
The comments come after reports that the Turkish government is working on a plan to cut interest rates, which is expected to be announced by Erdogan soon.
Presidential spokesman Ibrahim Kalin denied reports that there were differences in views on how to manage the country's economy. "The confusion in the news about a split in the way the Turkish economy is managed does not reflect reality," he said.
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