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Erdogan Says His Patience on Central Bank Policy Has Limits

  • Turkish president renews attacks on the bank after rate hike
  • Erdogan says Turkey will see the results of bank independence
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Erdogan is diluting the impact of the Turkish central bank’s actions, says Bhanu Baweja of UBS Investment Bank.Source: Bloomberg

Turkey’s President Recep Tayyip Erdogan resumed his criticism of the nation’s central bank a day after it announced the biggest rate hike of his rule.

“It’s currently my phase of patience but there is a limit to this patience,” Erdogan told members of his ruling AK Party in Ankara on Friday. He restated his opinion that higher rates won’t help to slow inflation and warned that his restraint won’t last forever.