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Turkey's Erdogan advises central bank to cut rates at next meeting

ISTANBUL, Sept 29 (Reuters) - Turkish President Tayyip Erdogan said on Thursday he had advised the central bank to lower its policy rate at its meeting in October, adding that interest rates need to be lowered further.

Speaking at the general assembly of a merchants' confederation, Erdogan said his "biggest battle is against interest rates" and repeated his unorthodox view that lower rates will lead to lower inflation.

Inflation in Turkey surged to more than 80% in August, mainly due to a currency crisis sparked at the end of last year following an easing cycle long sought by Erdogan. (Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Alison Williams)

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