The Turkish currency has lost 46 percent of its value to the dollar this year, fuelling inflation in an economy which depends heavily on imports.
A central bank survey of market participants on Friday showed one of the biggest ever monthly rises in expectations for inflation.End-year consumer price inflation was seen at 23.85 percent , up from a forecast of 19.31 percent a month earlier.
Investors are concerned about recent aggressive monetary easing under which the central bank has slashed its policy rate by 400 basis points since September. Inflation jumped to a three-year high of 21.3 percent last month.
Erdogan has repeatedly advocated for the rate cuts as he promotes a new economic plan prioritising economic growth, production and exports, despite widespread criticism of the policy from economists.
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