VIEW Turkey cements policy shift with super-sized rate hike reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Turkey s central bank hiked
its key interest rate by a larger-than-expected 750 basis points
to 25% on Thursday, sparking a rare lira rally and signalling a
new determination to address rebounding.
(Bloomberg) Turkish President Recep Tayyip Erdogan made some of the biggest moves in revamping his economic team by installing three new central bankers that include a former adviser at the Federal Reserve Bank of New York.Most Read from BloombergSubway Offers Free Sandwiches That Come With a Lifetime CommitmentLargest US Grid Declares Emergency Alert For July 27BOJ Sends Yields Soaring With Surprise Change to Rate CeilingUS 10-Year Yield Hits 4% as BOJ Worry Lifts Yen: Markets WrapFed Raises
Turkish President Recep Tayyip Erdogan named three deputy governors to the central bank, the country's official gazette said on Friday, a day after the bank vowed to continue gradual monetary tightening and raised its end-2023 inflation forecast. Osman Cevdet Akcay, Fatih Karahan and Hatice Karahan were appointed as deputy central bank governors, replacing three predecessors, the statement showed.