ANKARA (Reuters) - Turkish Economy Minister Nihat Zeybekci expects the central bank to continue with "bold" rate cuts, he told Reuters in an interview, adding he will understand if it hesitates following the failed coup attempt over the weekend.
The central bank will hold its monthly policy-setting meeting at 1100 GMT, where it is expected to continue with the monetary easing sought by President Tayyip Erdogan.
In an interview with Reuters late on Monday, Zeybekci reiterated the government's push for cheaper credit. Erdogan, who favors consumption-led growth, has repeatedly called for lower rates.
"I continue to support the central bank's decision to boldly lower rates. When we look at the developments on Friday, Saturday and Sunday if the central bank hesitates, I will understand."
A faction of Turkey's military attempted to topple the government in a coup that started late on Friday night but later crumbled as supporters of President Tayyip Erdogan answered his call and took to the streets in defiance of the coup plotters.
Zeybekci said that the failed coup attempt impacted the economy, but that impact will reverse.
Eight out of 19 economists in a Reuters survey have predicted the bank will cut the upper band of its interest rate corridor by 25 basis points, while six economists expect a cut of 50 basis points. The remaining five have predicted it will keep rates on hold.
(Reporting by Nevzat Devranoglu; Writing by Seda Sezer; Editing by David Dolan)