Turkey’s top banker bids farewell, shakes market’s core.

Summary: The Governor of the central bank of Turkey, Murat Cetinkaya, has unexpectedly resigned from his position. Cetinkaya claims that he was subjected to a campaign against him and that the bank’s independence has been undermined. The resignation comes after President Tayyip Erdogan has put pressure on Cetinkaya and the central bank to cut interest rates in order to boost economic growth. Erdogan has been critical of high interest rates in the past and has even argued that they cause inflation. The central bank’s independence has been a longstanding issue in Turkey, with some critics claiming that it has been eroded under Erdogan’s rule. The governor’s resignation raises concerns about the future of the central bank’s independence and its ability to implement effective monetary policy.

Key Points:

• Turkish central bank governor, Murat Cetinkaya, has resigned from his position.
• Cetinkaya claims that he was subjected to a campaign against him and that the bank’s independence has been undermined.
• His resignation comes after President Erdogan’s pressure on the central bank to cut interest rates.
• The central bank’s independence has been a longstanding issue in Turkey.
• The governor’s resignation raises concerns about the future of the bank’s independence and its ability to implement effective monetary policy.