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Financials

Cutting Turkish lira supply can achieve only so much, Erdogan aide says

ISTANBUL, Jan 24 (Reuters) - Only so much can be done by limiting the availability of Turkey’s lira, an adviser to President Tayyip Erdogan said on Tuesday, calling for urgent structural reforms after the central bank’s interest rate decision.

“Reform, reform, reform,” Bulent Gedikli said on Twitter. “Structural reforms must urgently be realised. Only so much can be done by limiting lira,” he said.

Turkey’s central bank hiked its overnight lending rate but left its main policy rate on hold, disappointing investors hoping for a sharper increase to stem the Turkish lira’s slide. (Reporting by Daren Butler; Writing by Humeyra Pamuk; Editing by David Dolan)

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