President critical of bank rate rise
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.