Erdogan adviser says no emergency cenbank meet planned in Turkey

·1-min read
FILE PHOTO: Turkish President Erdogan announces economic reforms in Istanbul

(Corrects corporate selling amount to $2.5 bln from $2.1 bln in paragraph 3)

ISTANBUL (Reuters) - An economic adviser for Turkish President Tayyip Erdogan said on Tuesday that there would be no emergency meeting of the central bank and that interest rates would not be lowered suddenly.

Erdogan abruptly ousted the hawkish central bank governor at the weekend and replaced him with a like-minded critic of high rates. The next scheduled monetary policy meeting is April 15.

Speaking to broadcaster Haberturk, Yigit Bulut said Turks sold $5.1 billion on Monday to profit off high exchange rates, while corporates sold $2.5 billion.

He added that the sharp fall in Istanbul's main share index was a speculative attack, and temporary.

(This story corrects corporate selling amount to $2.5 bln from $2.1 bln in paragraph 3)

(Reporting by Ali Kucukgocmen; Editing by Jonathan Spicer)