Erdogan seeks lowering interest rates, says they are devil's mother and father

Turkish President Recep Tayip Erdogan has called for lowering interest rates, naming them “na and the devil's father” after announcing the decline of Turkish currency, lira.

If my people tell me to continue on this road, I say I will continue to win the fight against this rate of interest”, Erdogan said in Ankara, referring to early elections to be held on June 24th.

Because I believe that interest rates are the mother and father of the devil”, he said during a speech with some business representatives.

His speech has been the reflection of news that Erdogan has held a meeting with his econic team following the decline in the value of the lira.

It has been reported that during this year, Turkish currency has dropped by 10 per cent compared to the US dollar.

After the meeting, Erdogan and the economic team have agreed to take measures to lower interest rates and protect the lira.