Turkey: Erdogan central bank firing clears way for more rate cuts
Al Jazeera
Two of the officials let go had opposed the last interest rate cut which sent the lira to a new all-time low.
Turkish President Tayyip Erdogan dismissed three central bank policymakers on Thursday, two of whom were seen to oppose the last interest rate cut, clearing the way for more policy easing and sending the lira to a new all-time low.
Analysts viewed the move – announced at midnight in the Official Gazette – as fresh evidence of political interference by Erdogan, a self-described enemy of interest rates who frequently calls for monetary stimulus.
With no explanation for the decision, Erdogan fired deputy governors Semih Tumen and Ugur Namik Kucuk, along with the longest-serving monetary policy committee (MPC) member, Abdullah Yavas, the gazette said.