Erdogan says he hopes volatile Turkish lira will steady soon

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Al-Araby

Turkish President Tayyip Erdogan said on Saturday he hoped that volatile foreign-exchange and inflation rates would stabilise shortly and he again promised low interest rates, after a historic plunge in the lira currency to record lows. The lira shed some 30 percent over the last month in a selloff driven by aggressive interest rate cuts that Erdogan sought, but that economists and opposition politicians say are reckless in part due to soaring inflation. “God willing we will stabilise all fluctuations in prices and forex rates in not such a long time,” Erdogan told an audience in the eastern c…

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