Over half of Turkish population does not approve of Erdoğan’s pressure on Central Bank: Poll

ANKARA/ISTANBUL

Some 68 percent of the Turkish population believes the Central Bank should make decisions based upon the realities of the economy, while only 17 percent believes it should make its decisions in line with President Recep Tayyip Erdoğan’s instructions, according to the latest study by the Metropoll research company.

Even 52 percent of ruling Justice and Development Party (AKP) supporters said the Central Bank needs to make decisions based on what the economic data requires, according to the research.

Some 48 percent of the population believes that the value of the U.S. dollar increased dramatically against the Turkish Lira due to rising pressure from Erdoğan over the Central Bank’s rate policies, it also revealed.
Metropoll’s latest survey was conducted with the participation of 2,694 people on Feb. 17-22 through face-to-face interviews.

President Erdoğan on Feb. 28 said anyone opposing interest rates cuts was guilty of “treason,” piling more political pressure on the Central Bank, stepping up his rhetoric.

“There is a very serious threat from the interest-rate lobby. Anyone who defends this [high rates] is at the beck and call of the interest-rate lobby. That is treason against this nation,” he said.

Central Bank Governor Erdem Başçı on Feb. 27 dismissed rumors that Erdoğan’s criticisms of the Bank for not cutting rates swiftly enough would force him to resign.