News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
30
o
Bekaa
32
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
27
o
North
32
o
South
30
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Ahmar Bel Khat Al Areed
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
30
o
Bekaa
32
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
27
o
North
32
o
South
30
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Turkey's Erdogan says won't compromise on rates; lira weaker
Middle East
29-11-2021 | 07:57
High views
Share
Share
2
min
Turkey's Erdogan says won't compromise on rates; lira weaker
Turkish President Tayyip Erdogan said he will never defend interest rate hikes nor compromise on the issue, NTV and other broadcasters reported on Monday, in his latest defence of recent monetary easing that has triggered a crash in the lira currency.
The lira weakened as far as 12.85 in early trade and briefly dipped again to 12.77 after Erdogan's latest comments. Liquidity was low with wide bid-ask spreads. At 1111 GMT, the currency was 3.7% weaker at 12.70.
"Tayyip Erdogan has talked from the beginning about low interest rates and says 'this interest rate will come down'," the president was quoted as telling reporters on his flight back from a visit to Turkmenistan.
"I have never defended raising interest rates, I don't now and will not defend it," he said. "I will never compromise on this issue."
He said that recent exchange rate volatility was not based on economic fundamentals and that Ankara was ready to provide necessary support to boost investments, namely through state banks.
NTV also reported him as saying he had not changed his unorthodox view that interest rates cause inflation.
"You will see, God willing, how far inflation falls before the election," he added. "The interest rate lobbies are seething."
The lira has tumbled as much as 45% against the dollar this year, with much of those losses suffered after Erdogan stepped us his defence of monetary policy. The central bank has slashed its policy rate by 400 basis points since September despite annual inflation around 20%.
The selloff this month is the lira's fifth-worst ever, according to Goldman Sachs research, putting it among the ranks of crises in 2018, 2001 and 1994.
REUTERS
Breaking Headlines
Turkey
Erdogan
Lira
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
13:10
From cargo to connectivity: Tripoli Port poised for regional role with strategic development projects
News Bulletin Reports
13:10
From cargo to connectivity: Tripoli Port poised for regional role with strategic development projects
0
News Bulletin Reports
2025-07-17
Rachaiya shuts down in mourning as Lebanon moves to defuse sectarian tensions from Sweida violence
News Bulletin Reports
2025-07-17
Rachaiya shuts down in mourning as Lebanon moves to defuse sectarian tensions from Sweida violence
0
News Bulletin Reports
2025-06-26
Israel eyes Syria amid US push to expand Abraham Accords, debate grows over Lebanon front
News Bulletin Reports
2025-06-26
Israel eyes Syria amid US push to expand Abraham Accords, debate grows over Lebanon front
0
Lebanon News
2025-07-17
Shocking crime in Jbeil: Security guard shot at tourist site
Lebanon News
2025-07-17
Shocking crime in Jbeil: Security guard shot at tourist site
Videos
d-none hideMe
0
Lebanon News
2025-07-15
Pregnant journalist Petra Abou Haidar attacked in road rage assault
Lebanon News
2025-07-15
Pregnant journalist Petra Abou Haidar attacked in road rage assault
0
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
0
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
0
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
0
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
0
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
0
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
0
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
0
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
14:33
Naim Qassem: Disarming Hezbollah is an Israeli demand, be patient with the exclusivity of weapons
Lebanon News
14:33
Naim Qassem: Disarming Hezbollah is an Israeli demand, be patient with the exclusivity of weapons
2
News Bulletin Reports
13:00
Lebanon's banking future: BDL enlists US firm to tackle unregulated economy, Hezbollah-linked cash flows
News Bulletin Reports
13:00
Lebanon's banking future: BDL enlists US firm to tackle unregulated economy, Hezbollah-linked cash flows
3
News Bulletin Reports
13:10
From cargo to connectivity: Tripoli Port poised for regional role with strategic development projects
News Bulletin Reports
13:10
From cargo to connectivity: Tripoli Port poised for regional role with strategic development projects
4
Lebanon News
01:56
PM Salam dismisses claims of Hezbollah handing weapons to Israel
Lebanon News
01:56
PM Salam dismisses claims of Hezbollah handing weapons to Israel
5
News Bulletin Reports
12:50
Israeli involvement in Syria: Israel expands military presence in southern Syria under guise of Druze aid
News Bulletin Reports
12:50
Israeli involvement in Syria: Israel expands military presence in southern Syria under guise of Druze aid
6
Lebanon News
05:43
Cyprus Energy Ministry to LBCI: No official statement yet on power line project to Lebanon
Lebanon News
05:43
Cyprus Energy Ministry to LBCI: No official statement yet on power line project to Lebanon
7
Lebanon News
09:22
Lebanese Army warns against security breaches, calls for unity amid challenges
Lebanon News
09:22
Lebanese Army warns against security breaches, calls for unity amid challenges
8
Lebanon News
11:35
Walid Jumblatt urges an end to incitement in Lebanon, calls for ceasefire in Syria's Sweida
Lebanon News
11:35
Walid Jumblatt urges an end to incitement in Lebanon, calls for ceasefire in Syria's Sweida
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More