The Turkish authorities will continue reducing the bank interest rate, which currently stands at 12%, President Recep Tayyip Erdogan said.
"As long as your brothers are in power, the interest rate will continue decreasing every day, every week and every month. We do not need anyone's advice and recommendations", the Turkish leader said during a speech at the opening ceremony of industrial facilities in the city of Balıkesir in the country's north-west.
From the end of 2021 until August this year, the Turkish Central Bank kept the rate at weekly repo auctions (a short-term loan secured by securities) at 14%, and then began to reduce it.
