Erdogan Calls on Turks to Keep All Savings in Lira

President Tayyip Erdogan said on Friday that Turks should keep all their savings in lira and that recent exchange rate volatility was largely under control after the lira weakened sharply in the last two months. According to Reuters, the lira crisis was triggered by the central bank’s aggressive interest rate cuts, carried out under pressure from Erdogan as part of a bid to boost credit and exports.