To keep their savings in Turkish pound called on its citizens Turkey today, Friday (31/12) the Turkish president Recep Tayyip Erdogan, while stating that recent exchange rate fluctuations are under control, after the collapse of the pound in the last two months.
In particular, in a speech in Istanbul, Erdogan also called on the Turks to transfer their gold reserves to the banking system and reiterated his unorthodox view that interest rates “are the cause of inflation”, broadcasts APE-MPE.
“I want all my citizens to keep their money, to run all their business with our currency, and I recommend that,” he said.
“Let us not forget this: as long as we do not treat our currency as a point of reference, we are doomed to sink. The Turkish pound, our currency, we will move on with this. “Not with this or that foreign currency.”
Addressing a group of businessmen, Erdogan called on Turks to bring gold savings to the banking system.
“For some time we have been fighting to save the Turkish economy from the vicious circle of high interest rates and high inflation and to put it on the path of growth through investment, employment, production, exports and surpluses in the “current account balance,” he said.
“Lower interest rates, higher interest rates. My friends, let’s get this out of our books. “Interest rates make the rich richer and the poor poorer.”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
