Turkish PM continues his criticism of high interest rates
Business |
High interest rate policy is a form of cruelty against common people,' says Erdogan.
Turkeys Prime Minister Recep Tayyip Erdogan reiterated his criticism of high interest rate policy on Sunday, terming it as a form of 'cruelty against common people.'
"The government's strong stance against setting high interest rates irritates the interest-rate lobby," Erdogan said after a traditional 'iftar' dinner hosted by the Independent Industrialists and Businessmen Association in Istanbul.
Turkish premier frequently accuses a group of financial speculators that he calls the interest-rate lobby for seeking to curb Turkey's growth.
Turkey is no longer a country that gets directives of certain people to set its economic policies, he said. A Turkey that breaks its chains disturbs some domestic and international power elites.
Erdogan and other government officials have repeatedly criticized the central bank for maintaining high interest rates, calling it a limiting factor for economic growth.
"The government's strong stance against setting high interest rates irritates the interest-rate lobby," Erdogan said after a traditional 'iftar' dinner hosted by the Independent Industrialists and Businessmen Association in Istanbul.
Turkish premier frequently accuses a group of financial speculators that he calls the interest-rate lobby for seeking to curb Turkey's growth.
Turkey is no longer a country that gets directives of certain people to set its economic policies, he said. A Turkey that breaks its chains disturbs some domestic and international power elites.
Erdogan and other government officials have repeatedly criticized the central bank for maintaining high interest rates, calling it a limiting factor for economic growth.
