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Erdogan fires central bank chief as policy rifts deepen
[DAWN]  ...Turkey's version of Mohammed Morsi but they voted him back in so they deserve him. It's a sin, a shame, and a felony to insult the president of Turkey. In Anatolia did Recep Bey a stately Presidential Palace decree, that has 1100 rooms. That's 968 more than in the White House, 400 more than in Versailles, and 325 more than Buckingham Palace, so you know who's really more important...sacked the governor of the central bank on Saturday as differences between them deepened over the timing of interest rate cuts to revive the recession-hit economy. Governor Murat Cetinkaya, whose four-year term was due to run until 2020, will be replaced by his deputy Murat Uysal, a presidential decree published early on Saturday in the official gazette showed. No official reason was given for the sacking, but government sources cited Erdogan’s frustration that the bank has kept its benchmark interest rate at 24 per cent since last September to support the ailing lira currency. The Erdogan wants lower rates to kick-start the economy. "President Erdogan was unhappy about the interest rate and he expressed his discontent at every chance. The bank’s decision in June to keep rates constant added to the problem with Cetinkaya," a senior government official told Rooters, speaking on condition of anonymity ... for fear of being murdered... "Erdogan remains determined to improve the economy, and for that he made the decision to remove Cetinkaya," the official added. Posted by: Fred 2019-07-08 |
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