Turkey will take all steps within the free market system to decrease interest rates and inflation - President Erdogan
Turkey President Recep Tayyip Erdogan speaks during"7th Council on Family" at Bestepe People's Congress and Cultural Center in Ankara, Turkey on May 2, 2019.
The central bank governor said on Tuesday interest rate hikes remained an option if inflation unexpectedly jumps and defended the bank's reserves policy against concerns that have grown as the lira tumbled in recent weeks. As laid out in Turkey's new economic program announced last September, the country's inflation rate target is 15.9 percent this year, 9.8 percent in 2020, and 6.0 percent in 2021.After concluding the last in a series of elections this March, Erdogan said the government is leaving behind the period of polls to focus on action.
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