Recep Tayyip Erdogan

Erdogan: Erdogan wants the central bank core interest rate, adjusted for inflation, kept near zero to encourage maximum lending - but the central bank, worried about inflation risks and currency depreciation, wants to increase the interest rate, according to Deutsche Welle. Turkey will get a new bridge across the Bosporus, a new Istanbul airport, and a new canal between the Black Sea and the Sea of Marmara Turkish Prime Minister Recep Tayyip Erdogan is at loggerheads with the country central bank over monetary policy - a conflict that could have profound consequences for the future of the Turkish economy. For now, Erdogan is winning. The Turkish central bank, or lowered its headline interest rate for the third month in a row in July. But critics say Erdogan policy victory will eventually result in a major financial crisis in Turkey, if and when the country massive private-sector debt bubble, fuelled by excessively cheap credit, stops growing. (news.financializer.com). As reported in the news.