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Erdogan Plans to Tighten His Grip on Turkey’s Economy

Guy Johnson, James Hertling
Erdogan Plans to Tighten His Grip on Turkey’s Economy

Turkish President Recep Tayyip Erdogan said he intends to tighten his grip on the economy and take more responsibility for monetary policy if he wins an election next month. With the Turkish lira at a record low against the dollar and down this year against all 17 major currencies tracked by Bloomberg, Erdogan told Bloomberg TV in London on Monday that after the vote transforms Turkey into a full presidential system, he expects the central bank will have to heed his calls for lower interest rates.