Turkish president Erdogan says they need to continue cutting rates gradually

  • Says that inflation will come down when interest rate is lower
  • Says that he has been defending that 24% interest rate is very high for Turkey

Who needs a central bank when you can get first-hand direction of where (and by how much) rates are going from the president himself? So much for central bank independence, they might as well just officially make him the new governor at this point.

Trump is probably green with envy though, wishing he could do the same with the Fed. ;)