Erdogan says Turkey's inflation will fall when rates decline further

• Erdogan also said he would support central bank independence regarding the bank's policy tools but not its purpose because the government will be held accountable over the economy.

ISTANBUL: Turkey's inflation will fall further when the key central bank interest rate is at single digits, President Tayyip Erdogan said on Thursday in a television interview, after the central bank cut its policy rate to 14pc.

"We are approaching towards single digits. When we are at single digits we will see a serious fall in inflation," Erdogan said in an interview with broadcaster TRT.

Erdogan also said he would support central bank independence regarding the bank's policy tools but not its purpose because the government will be held accountable over the economy.