Erdogan Will Fight ‘Interest-Rate Lobby’ in Turkey, Says Rates Should Fall
By Steve Bryant and Mark Bentley - Jan 11, 2012 11:16 AM ET
Prime Minister Recep Tayyip Erdogan said Turkey will make “strong, pointed responses” to a lobby he said is pressing for higher interest rates, as surging borrowing costs threaten to pare economic growth.
“The interest-rate lobby is working and on the attack right now,” Erdogan said in Ankara, according to state news agency Anatolia. “We won’t let the lobby work in comfort” because their success means “the spending power of citizens of this country who consume declines.”
More:Erdogan Will Fight ‘Interest-Rate Lobby’ in Turkey, Says Rates Should Fall - Bloomberg
