Erdogan Pledges to Lower Turkish Rates After Central Bank Fight

Turkish President Recep Tayyip Erdogan promised significantly lower interest rates by the end of the year, a week after ousting the country’s central bank chief.

“We aim to reduce inflation to one digit by the end of this year,” Erdogan told journalists in Istanbul, according to the state-run Anadolu news agency. “As we achieve this, we will achieve our year-end interest rate target as well.”