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We will continue with interest rates in the single digits

Turkish President Recep Tayyip Erdogan said the country would stick to the monetary policy approach of ultra-ease of single-digit interest rates after the central bank cut borrowing costs.
The central bank said this week it would end the monetary easing cycle, cutting the rate to 9% from 10.5%.

This has been a challenge against this year’s trend of global tightening, as many central banks have raised interest rates to address rising inflation, according to Bloomberg News Saturday.

“We have lowered interest rates to single digits and this will continue. Don’t worry, inflation will also come down,” Erdogan said.

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