Long opposed to rate increases, Erdogan now backs plan that includes raising rates, minister says

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Long opposed to rate increases, Erdogan now backs plan that includes raising rates, minister says
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A top government official says Turkish President Recep Tayyip Erdogan supports his new economic team's plan to increase interest rates to lower the country's soaring inflation.

Two men pull a trolley with goods in a street market in Eminonu commercial district in Istanbul, Turkey, Wednesday, Sept. 6, 2023. Turkish President Recep Tayyip Erdogan, who has espoused unconventional policies in the past, is fully on board with the country’s new economic policies that foresee a tight monetary policy to bring down inflation, members of his economy team said Thursday.

Turkish President Recep Tayyip Erdogan, who has espoused unconventional policies in the past, is fully on board with the country’s new economic policies that foresee a tight monetary policy to bring down inflation, members of his economy team said Thursday. Food shop sellers attend clients in a street market at Eminonu commercial district in Istanbul, Turkey, Wednesday, Sept. 6, 2023.

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