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Turkey’s lira tumbles after Erdogan fires central bank chief for hiking rates

Turkey’s lira tumbles after Erdogan fires central bank chief for hiking rates

The Turkish currency plummeted against the US dollar on Monday after President Recep Tayyip Erdogan fired the central bank governor over the weekend. The lira was down nearly 10% against the dollar from Friday’s close. Erdogan fired Naci Agbal for having hiked interest rates. He replaced Agbal with Sahap Kavcioglu, the 4th governor to lead the bank in two years. Agbal hiked rates by 200 bps.

Clara
Clara
Cerber Cerber
Cerber Cerber 3 weeks

Can't have monetary policy not pushing growth for the good image of the dictator. Imagine thinking a CB having to adhere to politics...

JakeN
JakeN 4 weeks

Hiking rates is the best way to stop inflation. Dumb leaders.

GB Oz
GB Oz 4 weeks

Rouge states and rouge people are all the same - they lie, they manipulate, they 'cover up'; they all, are inherently evil and have an agenda. None are to be trusted nor do any. have any honour.

Indo
Indo 4 weeks

All hail Sultan Recep !!!

TheEnlightenedFool
TheEnlightenedFool 3 weeks

I'm not sorry at all, but Eragon was a horrid movie.

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