November 16, 2019 / 12:42 PM / a month ago

Turkey's Erdogan says interest rates to fall, inflation to hit single digits in 2020

FILE PHOTO: Turkey's President Recep Tayyip Erdogan addresses the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 24, 2019. REUTERS/Lucas Jackson/File Photo

ANKARA (Reuters) - Turkish President Tayyip Erdogan said on Saturday that interest rates will continue to fall, after the central bank last month cut rates to 14%, and added he expected inflation to hit single digits in 2020.

Speaking at a ceremony in Istanbul, Erdogan also said he expected the unemployment rate to fall once data for September is released, after unemployment rose slightly to 14% in the three months to September with the youth jobless rate hitting a record high.

Reporting by Tuvan Gumrukcu; editing by David Evans

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