Turkey's Erdogan sees end to FX-demand driven volatility

Turkish President Tayyip Erdogan said on Wednesday there will no longer be volatility in financial markets caused by unbalanced demand for foreign currency after the lira currency tumbled 44% in value against the dollar last year.

In a speech to neighborhood administrators in Ankara, Erdogan said the froth would soon be removed from inflation - which surged to an annual 36.1% in December, the highest level during his 19-year rule.