Saturday, July 6, 2019

Turkey fires Central bank governor, Murat Cetinkaya

Turkey fired its central bank governor Saturday and replaced him with the bank’s deputy governor, a presidential decree published on the official gazette showed.

Murat Cetinkaya, who had been serving as the governor since April 2016, was removed from the role and was replaced by his deputy Murat Uysal, the order showed.

No official reason was given for the sacking, but markets have speculated over recent weeks that Cetinkaya may be pushed out by the government because of his reluctance to cut rates.

The central bank has faced pressure in the past from President Recep Tayyip Erdogan to lower interest rates to boost economic growth.

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