Turkey’s central bank governor was sacked after resisting 300 point rate cut -sources

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Turkey’s central bank governor was sacked after...
 © CyprusMail 2019
President Tayyip Erdogan’s abrupt decision to sack Turkey’s central bank governor Murat Cetinkaya came after months in which they had not met and was precipitated when Cetinkaya rebuffed requests in June for a 300 point rate cut, three sources said.

Erdogan has made no secret of his hostility to high interest rates which, contrary to orthodox economic thinking, he says drives up inflation. He has said Cetinkaya was ousted because the former governor had not followed instructions.

Accounts from three sources with knowledge of the matter...


This article was automatically added to our system 19-7-2019

Turkey’s central bank governor was sacked after resisting 300 point rate cut -sources


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