September 13, 2018 / 9:50 AM / 2 months ago

RPT-Erdogan says Turkey's cenbank independent, but he remains opposed to high rates

(Repeats to additional subscribers)

ANKARA, Sept 13 (Reuters) - Turkey’s central bank is independent and makes its decision on interest rates on its own, President Tayyip Erdogan said on Thursday, but added that his stance on high borrowing costs remained unchanged.

Speaking hours before a key decision by central bank on interest rates, Erdogan, a self-declared enemy of high interest rates, went on to criticise private banks saying some have increased their rates up to 50 percent.

Erdogan also told a traders’ confederation that finance sector should help private sector by restructuring debts. (Reporting by Ece Toksabay and Tuvan Gumrukcu Writing by Humeyra Pamuk Editing by Daren Butler)

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