Erdogan Announces Interest Rate Cuts to Begin in 2025 at AK Party Bursa Congress, Aiming to Combat Inflation

Dec 28, 2024, 12:25 PM

Turkish President Recep Tayyip Erdogan has announced that interest rates will begin to decrease in 2025, marking the start of a new interest rate cut cycle. Speaking at the AK Party's 8th Ordinary Provincial Congress in Bursa, Erdogan emphasized that lowering interest rates is essential for reducing inflation, stating it as a non-negotiable policy for his administration. He reiterated his unconventional economic belief that cutting interest rates will lead to a decline in inflation. The President also highlighted that the primary goal of the government's economic program is to compensate for the welfare loss experienced by the public due to currency and inflation instability.