Erdogan said that interest rates will continue to decrease in Turkey


Turkish President Tayyip Erdogan said on Monday that interest rates will continue to decline in Turkey, despite the fact that in the past this led to a serious weakening of the Turkish lira against the US dollar.

"This government does not intend to raise interest rates. On the contrary, they will decrease," the Turkish president said at a press conference in Ankara.

According to Bloomberg, after the Turkish president's statement, the national currency fell by 0.9% to 16.6 lira per US dollar. This year, the currency has depreciated by 19.8%, which is the worst indicator among emerging market currencies.

Exchange rates in Turkey -