Turkish President Recep Tayyip Erdoğan said on Friday that the central bank's decision to cut its key interest rate by 250 basis points to 42.5% on Thursday was a step in the right direction.
Speaking at a Ramadan fast-breaking dinner with tradesmen in Istanbul, Erdoğan also said vendors and tradesmen must not allow those imposing "exorbitant price hikes" on citizens.
