![Thursday's rate decision could set central bank Governor Sahap Kavcioglu on a possible collision course with Erdogan, who holds the unorthodox view that higher interest rates fuel consumer price gains and is seeking lower borrowing costs to fuel economic growth [File: Nicole Tung/Bloomberg]](https://www.aljazeera.com/wp-content/uploads/2021/08/377267073.jpg?resize=770%2C513)
Thursday’s rate decision could set central bank Governor Sahap Kavcioglu on a possible collision course with Erdogan, who holds the unorthodox view that higher interest rates fuel consumer price gains and is seeking lower borrowing costs to fuel economic growth [File: Nicole Tung/Bloomberg]
Selcuk Gokoluk and Tugce Ozsoy
The Turkish lira rallied to lead gains among emerging-market peers after Turkey’s central bank held its benchmark interest rate, defying President Recep Tayyip Erdogan’s calls for a cut. The currency rose as much as 1.2% after the Monetary Policy Committee held its one-week repo rate at 19% for a fifth month as forecast by all 20 analysts surveyed by Bloomberg.
Turkey: Central bank resists Erdogan’s calls for rate cut | Business and Economy News | Al Jazeera
