Turkey will continue cutting interest rates rather than hiking them in the face of high living costs, President Tayyip Erdogan said on Monday, playing down inflation of more than 70% as one of several problems for the economy.
In a speech, Erdogan also redoubled his commitment to boosting production, exports and employment with his unorthodox low-rates policy. He again promised a current account surplus that will eventually steady the currency and cool inflation.
