Turkey’s President Recep Tayyip Erdogan ousted central bank Governor Naci Agbal, two days after a bigger-than-expected increase in interest rates.
Erdogan named Sahap Kavcioglu as the new head of the country’s monetary authority, according to a decree published in the Official Gazette on Saturday.
The removal comes on the heels of a 200 basis-point interest-rate hike by the central bank on Thursday.
