President appoints ex-finance minister to role after saying country being squeezed in ‘devil’s triangle of interest and exchange rates and inflation’
The Turkish president, Recep Tayyip Erdoğan, has removed the governor of the country’s central bank from his post after the lira currency hit record lows, having lost 30% of its value since the start of the year.
The decision to replace Murat Uysal as governor was made by presidential decree and announced in the country’s official gazette early on Saturday. It was not immediately clear why Uysal was removed.
Continue reading…President appoints ex-finance minister to role after saying country being squeezed in ‘devil’s triangle of interest and exchange rates and inflation’The Turkish president, Recep Tayyip Erdoğan, has removed the governor of the country’s central bank from his post after the lira currency hit record lows, having lost 30% of its value since the start of the year.The decision to replace Murat Uysal as governor was made by presidential decree and announced in the country’s official gazette early on Saturday. It was not immediately clear why Uysal was removed. Continue reading…