Erdogan appoints former US banking executive to head central bank
Fox News
Turkish President Recep Tayyip Erdogan on Friday named Hafize Gaye Erkan, the U.S.-based former First Republic Bank executive, as the next director of Turkey's central bank.
Her nomination follows last week's appointment of Mehmet Simsek, an internationally respected former banker, as treasury and finance minister. He was a former finance and deputy prime minister under Erdogan and returned after a five-year break from politics.
The choices for two key financial roles have raised hopes that Erdogan, reelected last month to a third term, will move away from his insistence that lower interest rates will fight Turkey's staggering inflation. The rate peaked at 85% in October, and people are struggling to afford food, housing and other necessities.
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