President Recep Tayyip Erdogan’s governing AK Party had planned to submit the proposed legislation to parliament this week but has held off while officials do further work on it, two party officials said on condition of anonymity.
Meanwhile, Turkey kept interest rates unchanged for a fourth straight month despite a surge in inflation past 60 per cent, putting more onus on the central bank’s unconventional policies to tether the lira. The Monetary Policy Committee held its benchmark at 14 per cent on Thursday.
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