Central Banks
Erdogan’s Backing for Central Bank Is Intact After Big Rate Hike
Recep Tayyip Erdoğan
Photographer: John Lamparski/Getty Images
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Turkish President Recep Tayyip Erdogan reiterated his support for the central bank’s monetary tightening after it delivered another sizable interest-rate hike last week.
In what’s been a stark departure from Erdogan’s long championing of cheap money, he told reporters that his economic team is “implementing measures of monetary and credit tightening to attain price stability,” according to remarks reported by Sabah newspaper on Tuesday.