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Turkish lira sinks to record low as Erdoğan says interest rates must be cut

Turkey’s lira plunged to fresh record lows against the dollar after President Recep Tayyip Erdoğan said interest rates must be lowered in July or August. ....

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Turkey removes another Central Bank deputy governor

Turkey removed one of four central bank deputy governors on Tuesday, two months after President Recep Tayyip Erdogan fired the central bank governor.
Oguzhan Ozbas was removed from his post and Semih Tumen was appointed to replace him, according to an overnight decree published in the official gazette.
Tumen currently serves as an adviser to Erdogan and is the head of the economics department at Ankara’s TED University. He worked at various positions at the Central Bank of Turkey from 2002 to 2018.
In March, Erdogan sacked central bank chief Naci Agbal, two days after a sharp interest rate hike to head off inflation, replacing him with a former ruling party lawmaker and critic of tight monetary policy. The move sparked a plunge in the Turkish lira. ....

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Turkey holds rate but softens hawkish policy stance

Turkey holds rate but softens hawkish policy stance
Turkey s central bank maintained its key interest rate and tight monetary policy stance, as widely expected, but dropped its earlier commitment of maintaining this tight stance for an extended period, signaling a slight softening of its hawkish tone.
Instead of its previous pledge of keeping a tight policy stance decisively and for an extended period, the Central Bank of the Republic of Turkey (CBRT) today said it would use decisively all instruments in pursuit of price stability and the policy rate would be set above inflation to maintain a disinflationary effect until there is a permanent fall in inflation and the medium-term inflation target is reached. ....

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Turkey's Erdogan ousts central bank governor after steep lira slide

Turkey's Erdogan ousts central bank governor after steep lira slide
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.

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Turkish lira falls after dismissal of third senior central bank policymaker

Turkish lira falls after dismissal of third senior central bank policymaker
ahvalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ahvalnews.com Daily Mail and Mail on Sunday newspapers.

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