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Erdogan rejects the opposition’s request

Turkish President Recep Tayyip Erdogan, in response to the opposition’s call for early elections, said that presidential and parliamentary elections in Turkey will take place as planned in June 2023.
Earlier, the leaders of Turkey’s main opposition parties (Kemal Kilicdaroglu and Meral Aksener) accused Erdogan of inefficiency and called for early elections against the backdrop of a record drop in the lira exchange rate.
The Turkish lira hit a new record low on Tuesday, shedding 5% after President Recep Tayyip Erdogan defended recent sharp interest rate cuts and vowed to win his “economic war of independence”.
The central bank cut the interest rate last Thursday by 100 basis points to 15 percent under pressure from Erdogan, which is far below the inflation rate of about 20 percent, and indicated a further cut.
The central bank has cut interest rates by a total of 400 points since September in what analysts called a serious policy mistake in light of the deeply negative results and given that all other central banks have begun or are preparing to tighten fiscal policy.
Erdogan defended the policy in a late-night news conference on Monday and said tightening monetary policy would not reduce inflation.
He said after a cabinet meeting, “I reject the policies that lead to the deflation and weakening of our country and condemn our people to unemployment, hunger and poverty,” which led to the lira’s decline late in the day.

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