Mubasher: Turkish President Recep Tayyip Erdogan said on Tuesday that interest rates are the main reason behind the high inflation in the country, according to Reuters.
The most recent data showed a new acceleration in price rises in Turkey.
“We still have not been able to lower inflation and this is due to interest rates,” Reuters quoted Erdogan.
“The fall in interest rates is unfortunately not at the level we would like. If we can’t achieve this, many troubles await us. We must solve this,” the Turkish president added.
Inflation surged to 11.2% in September, as per the data published on Tuesday, which is higher than the 5% target set by the central bank.
