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Turkey's economy minister calls on c. bank to cut interest rates
August 5, 2014 / 6:27 AM / in 3 years

Turkey's economy minister calls on c. bank to cut interest rates

ISTANBUL, Aug 5 (Reuters) - Turkey’s economy minister called on Tuesday for the central bank to cut interest rates towards levels expected by markets, warning against an upward revision in year-end inflation targets after higher-than-expected July inflation data.

“Market expectations for the cost of financing at the moment are at a lower level than the current interest rates because of the political and economic stability in our country,” Nihat Zeybekci said in a statement. “It is an absolute necessity....to ease interest rates towards expectations.”

Reporting by Humeyra Pamuk; Editing by Daren Butler

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