Turkey Pres Erdogan removes central bank governor
- Naci Agbal, who was appointed less than 5 months ago was replaced after raising policy rates by 875 basis points to 19%, including a 200 bps hike on Thursday aimed at heading off inflation a bolstering the sagging lira.
- Erdogan names Sahap Kavcioglu as new central bank governor. Kavcioglu is a former member of parliament for Erdogan’s ruling AK Party who supports low interest rates and was critical of Agbal's policy