ANKARA - Turkey’s central bank has dismissed its chief economist, Hakan Kara, and some department managers, according to a document seen by Reuters, re-igniting concern about political interference in the institution one month after the sacking of its governor.
Also dismissed were the bank’s research and monetary policy general manager, Pinar Ozlu; markets general manager Orhan Kandar; and banking and financial institutions general manager Yavuz Yeter, the document showed. Kara and the general managers were all given the role of advisers. The document did not identify a new chief economist, but named several people as being appointed to fill vacancies in the bank’s economics team after the changes. More than 10 people were dismissed in total.stood at 5.4970 against the dollar at 0830 GMT, weakening from a close on Thursday of 5.4700.
Erdogan has often expressed the unorthodox view that inflation will come down when interest rates are lowered, adding that he expects stronger economic recovery in the second half of the year.
Why not hang them?
Not a good sign. More pain on the way :(
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