Turkish President Tayyip Erdogan said on Thursday he was determined to lower interest rates, inflation and the lira exchange rate to desired levels and will take every step within free market rules.

He made the comments in a speech to business people in Ankara.

Turkey's central bank left its key interest rate unchanged at 24 percent last week.

Annual inflation is near 20 percent and the lira has weakened more than 10 percent against the dollar this year.