May 27, 2014 / 10:22 AM / in 4 years

Turkey's Erdogan says central bank rate cut insufficient

ANKARA, May 27 (Reuters) - Prime Minister Tayyip Erdogan said on Tuesday the Turkish central bank’s interest rate cut last week was not enough and called for more “serious” decisions from the bank.

“A half percentage point (cut) is like mocking the nation. Instead, the decisions need to be serious,” Erdogan told his weekly AK Party group meeting in parliament.

A long-time champion of lower interest rates, Erdogan said Turkey’s high interest rates were to blame for inflation, which he said the central bank had failed to bring down. (Reporting by Gulsen Solaker; Writing by Humeyra Pamuk; Editing by Daren Butler)

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