ISTANBUL (AP) — Turkey has seen its fifth central bank leader depart in as many years as Hafize Gaye Erkan, the first woman in the top role, stepped down after just eight months in the job.
Photos You Should See View All 45 ImagesHere are key things to know about the central bank shakeup and what it means for Turkey's battered economy:WHY IS THERE A NEW CENTRAL BANK LEADER?
Erkan resigned after weeks of media stories about her father’s undue influence in the central bank’s Istanbul office.
Previous changes in central bank leadership has seen Erdogan row back on efforts to bring inflation under control through interest rate hikes.
He was brought in as the bank’s deputy head at the same time Simsek took over the Finance Ministry and Erkan was appointed to lead the central bank.
Persons:
Hafize Gaye Erkan, Goldman Sachs, Recep Tayyip Erdogan, — Erkan, ”, Fatih Karahan, Mehmet Simsek, Erdogan, Erkan, Karahan, Simsek's, Simsek, Liam Peach, Selcuki, ” “ It’s, ” Selcuki
Organizations:
—, Finance, WHO, FATIH, Finance Ministry, University of Pennsylvania, Federal Reserve Bank of New, Amazon, Capital Economics, Istanbul Economy Research
Locations:
ISTANBUL, — Turkey, Turkey, Istanbul, Simsek, U.S, Federal Reserve Bank of New York, Columbia, New York, Ankara