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Turkey ‘Determined’ to Not Raise Rates, Finance Minister Says

Turkey is determined to not raise interest rates, its new finance minister said on Monday, echoing President Recep Tayyip Erdogan’s policy that has put pressure on central bank decision-making. 

The remarks come ahead of an expected cut to rates again on Thursday, in an easing cycle that has driven the lira to record lows as inflation climbs to 20%.