Document: CBRT dismisses chief economist, department managers – Reuters, Lira at fresh lows

According to document seen by Reuters, the Turkish Central Bank (CBRT) sacked its chief economist Hakan Kara and some department managers as part of a reorganization of the bank ordered by the bank’s assembly

The move follows last month’s dismissal of the bank’s governor Murat Cetinkaya by President Erdogan.

Key Details:

Among those 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.

It detailed a reorganization of bank departments under the bank assembly decision taken at a meeting on Aug. 8 and showed that more than 10 people were dismissed in total. The decision was effective from Aug. 9. 

The Turkish Lira retraced from daily tops of 5.4510 vs. the greenback on the CBRT revamp news, pushing USD/TRY back towards the 5.4950 levels.