Turkish President Recep Tayyip Erdogan said today, Saturday, that he hopes to stabilize foreign exchange rates in a short period and bring stability to commodity prices.
And he pledged again to cut interest rates after a historic drop in the Turkish lira, during which it reached record low levels.
"God willing, we will achieve stability in exchange rates within a short period," the Turkish president added in a speech to the audience in the eastern city of Siirt.
"Interest rates are a disease that makes the rich richer and the poor poorer," he said.
Erdogan stressed that he will always stand by producers who create jobs through low interest rates.
He also pledged to raise the minimum wage to a level that compensates those with limited incomes.
On Monday, Erdogan said he would never support raising interest rates and "never back down from it."
The lira fell by about 30% last month in a sell-off triggered by a massive interest rate cut by Erdogan.
The lira touched a record low on Tuesday, as it was trading at 14 liras against the dollar.