May 25, 2018 / 8:24 AM / in a year

Turkey's central bank was late to hike rates, Simsek says

ISTANBUL, May 25 (Reuters) - Turkey’s central bank was late to hike interest rates, Deputy Prime Minister Mehmet Simsek said on Friday, adding that it was nonetheless a strong step that showed it was independent.

Simsek also told broadcaster NTV that the bank would do whatever is necessary and had the full support of the government. He said the impact of Wednesday’s rate hike was limited by developments a day later, including market rumours. (Reporting by Daren Butler Writing by Ali Kucukgocmen; Editing by David Dolan)

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