Turkish central bank chief was sacked for refusing 300-point rate cut – Reuters

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Turkish central bank chief was sacked for refusing 300-point rate cut – Reuters

The surprise July 6 decision to sack Çetinkaya was interpreted by many as the end of the central bank’s independence and the beginning of full contr

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The surprise July 6 decision to sack Çetinkaya was interpreted by many as the end of the central bank’s independence and the beginning of full control of Turkey’s monetary policy by Erdoğan.

Sources told Reuters that Çetinkaya’s relationship had broken down with the president after he approved an “eye-watering” 625-basis point rise to the benchmar […]

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