Erdogan pledges return to low policy rates in Turkey

President Tayyip Erdogan said on Thursday he remains opposed to Turkey's tight monetary policy and pledged a "definitive solution" to soon lower the central bank's key interest rate from 24%.

"In my country, unfortunately, the interest rate is 24 percent. This cannot happen. That's why soon we will bring a definitive solution," Erdogan told reporters in Istanbul. "Turkey has to return from this interest rate policy in a very careful way," he added.