Central Bank keeps interest rates steady

January 20 2022 14:51:11

Central Bank keeps interest rates steady

ANKARA

Turkey’s central bank on Jan. 20 has kept interest rates steady on Jan. 20.

The bank left its policy rate at 14 percent two days after President Recep Tayyip Erdoğan - a fervent opponent of high interest rates - said future reductions could come "gradually and without any rush".

Erdoğan has been waging a "war of economic independence" designed to wean Turkey off its dependence on foreign capital inflows by boosting cheap lending and revving up exports.

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