"My sensitivities concerning interest rates are the same, nothing has changed", he said.
The increase, which was higher than expected, boosted the lira by five percent against the dollar and may ease investor concern about Erdogan's influence on monetary policy.
He earlier charged the bank with failing to control inflation and again aired his unorthodox view that low rates bring inflation down.
"As of today, I have not seen the central bank fix inflation rates as they promised", Erdogan went on.
"The Governing Council expects the key European Central Bank interest rates to remain at their present levels at least through the summer of 2019, and in any case for as long as necessary", it said, repeating its guidance. "If you say 'inflation is cause, the rate is the result, ' you do not know this business, friend".
Right before the bank acted, Erdogan decried high interest rates as a "tool of exploitation".
Erdogan past year said the fund needed a "reorganisation" after the first chairman Mehmet Bostan was removed from his post in September 2017.
"The central bank is independent and makes its own decisions", he said. "The lira crisis seems to be far from over".
Turkey has in recent weeks been battling through one of the most troubled periods for its economy under the rule of President Recep Tayyip Erdogan, with the lira battered on currency markets in August.
Relations with the United States deteriorated last month after Washington imposed sanctions on two Turkish ministers over the detention of an American pastor and President Donald Trump doubled steel and aluminium tariffs on Turkey.
The Turkish currency lost almost a quarter in value against the dollar in August. Growth slowed to an annual rate of 5.2% in the second quarter, from the first quarter's 7.4%.
"Erdogan's comments clearly show that he does not support this and it becomes much more hard, if not impossible, for the Turkish central bank to tighten enough to stabilize the lira and get inflation under control", Esther Reichelt, a forex strategist at Commerzbank in Frankfurt, told DW.
"For any property transaction it's the price at the moment of the deal that counts".
Private banks also took some of Erdogan's heat. Albayrak and Sonmez were among the seven members in the Turkish fund's new board. Erdogan said last September the fund was to be reorganised after dismissing its chairman over its failure to meet targets.
The fund was created in the wake of an attempted coup in 2016 to help fund infrastructure projects and shore up markets. Its portfolio includes 100% ownership of Turkish Petroleum, Borsa Istanbul and Ziraat Bank, as well as shares in national carrier Turkish Airlines (49.12%) and Halk Bank (51.11%).