Turkish President Recep Tayyip Erdoğan on Nov. 30 again rejected the idea of raising interest rates.
“With the new economic model, we reject out of hand the policy of attracting hot money with high interest rates,” Erdoğan said in an interview on state TV.
“We will support production and exports with lower rates,” Erdoğan stated.
“We are no longer posting a current account deficit and financing deficit with external debt, but we are moving towards an economy that gains foreign currency,” he also said.
Hurriyet Daily News