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Erdogan Calls on Turkish Central Bank to Cut Rates on Oil Relief

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Turkish President Recep Tayyip Erdogan called on the central bank to cut interest rates as slumping oil prices improve the country’s financial position. The lira slid to a two-week low.

“The central bank is standing still while everyone else in the world is cutting interest rates,” Erdogan told businessmen during an address at his palace in Ankara today. “We have no difficulty with regard to oil, on the contrary, we are in a very very good position. In the circumstances, we must speedily ensure this gets passed on to our people and investors.”