January 21, 2014 / 2:06 PM / 4 years ago

Turkey's Erdogan congratulates central bank for leaving rates on hold

BRUSSELS, Jan 21 (Reuters) - Turkish Prime Minister Tayyip Erdogan congratulated the central bank on Tuesday for what he said was an “appropriate” decision to leave interest rates on hold, despite market pressure for a rate hike to combat a tumbling lira.

“I see the decision that the central bank has taken today as appropriate and I congratulate them,” Erdogan, who has been a vocal advocate of low rates, told a news conference in Brussels, emphasising that the central bank was independent.

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