March 28, 2019 / 11:02 AM / 3 months ago

Erdogan says Turkey has to cut interest rates to fight inflation

ANKARA, March 28 (Reuters) - Turkey has to cut interest rates or the problem with high inflation will persist, President Tayyip Erdogan said on Thursday, adding that the recent volatility in the lira stemmed from attacks by the United States and other Western countries.

Speaking to young voters in Ankara, Erdogan said banks were playing a game on the Turkish lira ahead of Sunday's local elections and added that Turkey needed to "discipline speculators in the market". He did not name the banks.

He also said interest rates were Turkey's main issue and inflation would begin to fall as interest rates were cut. (Reporting by Tuvan Gumrukcu and Ece Toksabay)

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