President Erdogan: Inflation will not fall with this mentality

President Erdogan said, “Inflation has not gone down from double-digit figures to single digit figures. It won’t do so either, long as this mentality prevails”. Erdogan commented that interest rates should come down for the inflation to fall and that the Central Bank (CBT) and the Banking Regulation and Supervision Agency (BRSA) should take a role in this issue.

The President also made explanations to reporters on the plane during his return trip from Italy with reference to the economic consultation meeting under his presidency last week and said “I told my friends clearly that the Central Bank and the BDDK should take an active role here as well as state owned banks. Unless you do not take an active role, others will play in the market as they like. As I said we’ll come together again to talk when the work concerned is completed. We will not make any concessions in interest rates. We will pull interest rates down and when we do so, inflation will also go down”