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Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT
Murat Cetinmuhurdar | Reuters
Turkey will keep cutting interest rates, its President Recep Tayyip Erdogan said, despite soaring inflation at over 80%.
The central bank of Turkey will not be raising rates, he told CNN Turk on Wednesday night, adding that he expects the country’s key rate, currently 12%, to hit single digits by the end of this year.
Faced with deepening economic problems, Erdogan…
Source cnbc.com
