Central Banks

Erdogan Says Turkey Rates Will Definitely Fall in 2025

Recep Tayyip Erdogan attends the Justice and Development Party's 8th Ordinary Provincial Congress in Bursa, on Dec. 28. — Recep Tayyip Erdogan attends the Justice and Development Party's 8th Ordinary Provincial Congress in Bursa, on Dec. 28.
Photographer: Turkish Presidency/Anadolu/Getty Images

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By Inci Ozbek

December 28, 2024 at 1:21 PM UTC

Updated on

December 28, 2024 at 2:49 PM UTC

Turkey’s President Recep Tayyip Erdogan said interest rates will fall in 2025 as he once again stated his unconventional belief that lowering interest rates will slow down price increases.

“We will definitely start lowering interest rates. 2025 will be the mark year for this,” he said during a speech on Saturday in the province of Bursa. “Interest rates will come down so that inflation will also come down. This is a must for us,” he added.