Erdoğan says Turkey will make serious cuts to interest rates

" will make serious cuts to . We also aim to from more than 15% to single digits by the end of the year," Turkish said in Sunday comments as quoted by national media outlets.

's Recep Tayyip Erdoğan said Turkey will make serious cuts to interest rates, broadcaster Haberturk reported on Sunday, a week after he replaced the governor of the central bank.

Erdoğan said Turkey aimed to from more than 15% to single digits by the end of the year, and also had a target for interest rates over the same time period, Haberturk said.

"We will reduce this in a serious way," it quoted him as saying. "Once this is reduced you will see inflation reduce significantly."

Broadcaster Haberturk quoted Erdoğan as telling Turkish journalists that Donald Trump "has the authority to waive or postpone CAATSA", referring to U.S. sanctions designed to prevent countries buying military equipment from Russia.

"Since this is the case, it is Trump who needs to find the middle ground," Erdoğan said, according to Haberturk.

Trump expressed sympathy for Turkey's position when he met Erdoğan at a G20 summit in Japan last month, saying Ankara had bought the S-400s from Moscow because the previous U.S. administration would not sell it Patriot missiles.

"Right now, I don't believe Trump is of the same opinion of those below him and he has said this in front of all world media," Erdoğan said.

"By buying the S-400s, we are not getting ready for war. We are trying to guarantee peace and our national security," he added.

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