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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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Turkey seeks 40 F-16 jets to upgrade Air Force -sources

Turkey seeks 40 F-16 jets to upgrade Air Force -sources

BY REUTERS Turkey has made a request to buy 40 Lockheed Martin-made F-16 fighter jets as well as 80 modernization kits for its existing warplanes, as the NATO ally looks to modernize its Air Force after the purchase of F-35 jets fell through, sources familiar with the matter said. The deal, worth billions, is still...