Turkey's Erdogan says rates will come down, hitting lira

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Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the party headquarters in Ankara, Turkey, November 23, 2021. Murat Cetinmuhurdar/PPO/Handout via REUTERS

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ISTANBUL, Nov 26 (Reuters) - President Tayyip Erdogan said on Friday that interest rates will come down, adding that Turkey will not turn back on its new economic policy that prioritises production, employment and a current account surplus, extending the lira's decline.

Speaking in the Aegean coastal province of Izmir, Erdogan said he will not allow people to be trampled by high interest rates and that he is against the International Monetary Fund (IMF) and the World Bank.

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Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Jonathan Spicer

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