Economics

Erdogan Renews Rate-Cut Demands as Economy Erodes Support

Turkish president cites ‘July-August’ in call for rate cuts
Currency weakens to fresh lows after president’s TV remarks

Turkey's President Erdogan Demands Rate-Cut, Lira Slumps to Record Low

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By Onur Ant and Cagan Koc

June 1, 2021 at 9:29 PM UTC

Updated on

June 2, 2021 at 12:22 PM UTC

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Turkish President Recep Tayyip Erdogan renewed calls for lower interest rates despite elevated inflation, sending the lira to a fresh low against the dollar and prompting the central bank governor to push back against expectations of an imminent move.