The first woman governor of Türkiye’s Central Bank, Hafize Gaye Erkan, has stepped down from her role just shy of eight months after her appointment on 8 June 2023. She has been replaced by her Erkan announced her resignation on Friday in a message on X (formerly Twitter), stating she had been subjected to “a […]
A return to orthodox fiscal policies in Turkiye has seen a steep rise in interest rates as the Turkish government and Central Bank seek to check rampant inflation. On Thursday, as expected, the Central Bank announced a rise in interest rates – the seventh consecutive monthly increase. The 250 basis points means interest rates now […]
Last month, Turkiye’s President Recep Tayyip Erdoğan made history when he appointed Hafize Gaye Erkan as the governor of the Central Bank of Turkiye – the first ever woman to head the 93-year-old financial institution. Erkan enters the financial fray in her motherland armed with an impressive biography as she bids to find the optimum […]
On Thursday, Turkiye’s Central Bank cut interest rates from 14% to 13%. The move was not expected by traders and within 24 hours, the Turkish lira was again sliding in the wrong direction nearing record lows. Such is the fear that the move will fuel more inflation that the Turkish lira suffered further depreciation against […]
