Turkey’s Erdogan says continuing his battle against interest rates

Turkish President Recep Tayyip Erdogan delivers a speech following a cabinet meeting, in Ankara, on June 9, 2020.

Adem Altan | AFP | Getty Images

Turkish President Tayyip Erdogan said on Wednesday he will not let interest rates crush people and will continue his battle against them “to the end,” a day before a key central bank policy meeting at which rates could be cut further.

In the comments that sent the lira currency lower into record territory, Erdogan told members of his ruling AK Party that he will lift the interest rate burden from people and urged business owners to invest, hire and raise exports.

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