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Back-to-basics Agbal hopes this time is different at Turkey's central bank


Publishing date: Feb 17, 2021  •  February 17, 2021  •  4 minute read  • 
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ANKARA Naci Agbal, Turkey’s new central bank governor, began his career as a financial inspector three decades ago. He hopes such devotion to the rules will see him – and the economy – through one of the trickiest turnaround jobs in emerging markets.
Turkish President Tayyip Erdogan appointed Agbal in early November as the lira touched a record low and double-digit inflation was rising even higher. He has since hiked interest rates to 17% from 10.25%, sending the lira rallying beyond all peers.
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