Pres­i­dent crit­i­cal of bank rate rise

Yorkshire Post - - UK & ABROAD -

Pres­i­dent Re­cep Tayyip Er­do­gan has crit­i­cised the cen­tral bank for sharply rais­ing in­ter­est rates from 17.75 per cent to 24 per cent to stem a cur­rency cri­sis.

The move sug­gests it is re­assert­ing its in­de­pen­dence de­spite pres­sure from Mr Er­do­gan to keep rates low.

Ad­dress­ing his rul­ing party’s of­fi­cials, Mr Er­do­gan said: “Here you go, have your in­de­pen­dence. We will see the re­sults of the in­de­pen­dence.”He said that his “pa­tience” would have its lim­its.

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