President Tayyip Erdogan said on Thursday he was 'in charge of Turkey'...
ANKARA - President Tayyip Erdogan said on Thursday he was “in charge of Turkey’s economy” as he piled pressure on the central bank to cut interest rates despite double-digit inflation and a tumbling lira.
The Turkish currency dived 5 percent against the dollar on Thursday after banks started providing lira liquidity to the London market again following several days of authorities withholding liquidity to support the currency. Opinion polls suggest the AK Party could lose control of Ankara and possibly of Istanbul, Turkey’s largest city where Erdogan once served as mayor. That would be a painful blow for a party that presided over years of stellar economic growth in Turkey.
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