Erdogan slams interest rates as 'tool of exploitation'

Erdogan slams interest rates as 'tool of exploitation'Turkish President Recep Tayyip Erdogan on Saturday branded interest rates a "tool of exploitation" which should be kept as low as possible. "Interest rates should be kept to a minumum because they are a tool of exploitation that makes the poor poorer and the rich richer," Erdogan said in a speech in the Black Sea city of Rize. The nominally independent central bank has defied pressure over the last few weeks to hike interest rates in the face of high inflation and a collapsing currency.

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