Erdogan says Turkey's rate cuts to go on
ISTANBUL, Nov. 26 (Xinhua) -- Turkish President Recep Tayyip Erdogan said on Friday that rate cuts would go on in his country, adding he would not allow Turkish people to be "crushed" by high interest rates.
Speaking in Turkey's western province of Izmir, Erdogan said his government would not give up its economic policies that focus on production, employment, and current account balance.
The Turkish central bank has cut its benchmark policy rate by 400 basis points since August to 15 percent, leaving the Turkish currency in a free fall against the U.S. dollar.
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