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Turkish broadcaster NTV reports comments from the country’s President Tayipp Erdogan, as he spoke to the reporters on a return flight from Qatar.

Key Quotes:

“Turkish interest rates and inflation are on the path to desired levels “despite all the pressures” and both will fall to single digits in 2020.”

“The fall in rates and inflation will be permanent.”

“Once both figures hit single digits, the economy and currency in Turkey will be “very different.”

USD/TRY spiked to fresh six-day highs of 5.7552, as the Lira came under fresh selling pressure following the downbeat comments from Turkey’s President.