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Erdogan defends pursuit of lower interest rates as lira sinks

Erdogan defends pursuit of lower interest rates as lira sinks

BY BLOOMBERG President Recep Tayyip Erdogan defended his pursuit of lower interest rates to boost economic growth and job creation, pushing the lira to a new record low against the dollar. Turkey has abandoned old policies based on high borrowing costs and a strong currency in the name of slowing inflation, and instead shifted to...

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I won’t stand by anyone who defends interest rates: Erdogan

I won’t stand by anyone who defends interest rates: Erdogan

Turkish President and AK Party Chairman Recep Tayyip Erdogan has underlined the ‘low interest rate’ message at the AK Party’s group meeting . Repeating the idea that the ‘interest is the cause and inflation is the result’, Erdogan said his party will remove the burden of the interest rate burden from the nation.  “We cannot let...

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TRY Rout Imperils One of the Best Bets in Emerging Markets

TRY Rout Imperils One of the Best Bets in Emerging Markets

BY BLOOMBERG The TRY’s slump this month threatens to derail a rally in Turkish corporate bonds that’s handed investors some of the richest returns in emerging markets. The debt, offering returns of 4.4% in 2021, was the second-worst performer in developing nations after President Recep Tayyip Erdogan sacked three central bankers last week. As TRY tumbled, the...