Bussiness and financial district of Levent, which comprises of leading Turkish companies' headquarters and popular shopping malls, is seen from the Sapphire Tower in Istanbul, Turkey May 3, 2016. REUTERS/Murad Sezer
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The remarks were the harshest yet from Erdogan, who's been pushing the nation's central bank for several years to cut rates.The banks that obeyed Erdogan's call included state-run lenders TC Ziraat Bankasi AS, Turkiye Halk Bankasi AS and Turkiye Vakiflar Bankasi TAO, along with private lenders Denizbank, TEB, Sekerbank and Kuveyt Turk. The country's largest private lenders – Garanti, Akbank and Isbank – have yet to say whether they'll follow.Erdogan is calling for rates to be lowered to about 9 percent annually, from 13.72 percent now.The seven lenders that have so far announced reduced mortgage rates have cut the interest charges to annualized levels of around 11.5 percent.
FOLLOW THIS ARTICLE