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Erdogan warns his patience with Turkey’s central bank “has limits” after rates hike

first_img Share Friday 14 September 2018 3:04 pm Erdogan warns his patience with Turkey’s central bank “has limits” after rates hike More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org President Recep Tayyip Erdogan has warned his patience with Turkey’s central bank “has limits” following its decision to hike interest rates.Erdogan reaffirmed his stance that interest rates should be lower and said the country would “see the results” of the bank’s independence, in a speech to member of his ruling AK Party in Ankara. It comes after the bank defied the executive president and raised interest rates from 17.75 per cent to 24 per cent – beating market expectations.Read more: Turkish lira soars after central bank raises interest ratesErdogan said: “It’s currently my phase of patience but there is a limit to this patience.”He added: “Here you go, have your independence. We will see the results of the independence.”The Turkish lira soared to 6.06 per dollar – from a lower of 6.54 earlier that day – following the decision as investor confidence was buoyed after a tumultuous few months for the currency. It dropped slightly on Friday to 6.12 per dollar.Read more: Erdogan takes control of Turkey’s sovereign wealth fundJust hours before the bank’s decision Erdogan had publicly called for rates to be lowered – he had previously called interest rates “the mother and father of all evil.”The country’s central bank promised action after inflation rose to 18 per cent. whatsapp whatsapp Callum Keown last_img read more

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