The prosecution service in Turkey accuses the gead of tge country's central bank, Erdem Basci, of serious material damage inflicted on Turkey’s citizens as a result of the erroneous interest rate policy of the central bank. In case of a trial, Basci could be imprisoned for up to two years.
On February 10, Turkish President Recep Tayyip Erdogan criticized Basci’s work, saying that if the central bank’s head can’t cope with his duties, he will be held accountable.
Earlier on February 10 the head of the Central Bank was criticised by the President of Turkey, Recep Tayyip Erdogan. He pointed out that the authorities had repeatedly made demands to lower interest rates, but the reaction from the financial institution did not follow.
"Inflation in the country is associated with high interest rates, rather than high interest rates being associated with high inflation," Trend cited Erdogan.
