Imamoğlu issues harsh criticism of Central Bank's interest rate decision

The Central Bank of the Republic of Turkey has cut interest rates by 300 basis points, bringing them down to 43%. This decision had been expected following statements made over some time. The Central Bank, which had lowered interest rates in March, has gone for another cut after 4.5 months. Following the developments on March 19, interest rates had risen again.

Ekrem İmamoğlu, who continues his presidential candidacy, stated in a post on social media that interest rates could have been lowered even further. In his statement, İmamoğlu included the following remarks:

"The Central Bank has lowered interest rates from 46% to 43%"

"If a desk-bound conspiracy had not been designed on March 19 out of political ambition and a hunger for power, and if a coup had not been carried out against the will of the nation, it would have been easily possible for interest rates to be at 37-38% today.

But the damage caused to the country by a handful of ambitious people has reached terrifying proportions. According to the calculations of economists, at least 300 billion TL has been added to the budget's interest expenses in the short term due to the extra interest burden created in the last 4 months.

An extra 300 billion TL to be paid in interest, cut from health, education, investment, and the pockets of the nation...

'THE ECONOMY CANNOT BE FIXED BY STAGING A COUP AGAINST DEMOCRACY!'

The order of these ambitious people causes citizens to lose, bankrupts companies, and burdens our state with usurious interest rates.

This cannot go on like this! The economy cannot be fixed by staging a coup against democracy or by playing at conspiracy behind closed doors!

We will get the economy back on its feet with clean, professional staff, free from partisanship, coup-plotting, and cronyism. It won't be long now..."