Turkey’s Erdoğan appoints new central bank deputy governors

Turkish President Recep Tayyip Erdoğan approved the appointments of Borsa Istanbul CEO Murat Çetinkaya and Oğuzhan Özbaş as deputy governors of the Central Bank of Turkey, Anadolu Agency reported on Saturday.

The new deputy governor Murat Çetinkaya has the same name as the former governor of the central bank, who was ousted in July by Erdoğan for failing to lower interest rates. 

Çetinkaya left state-run Halk Yatırım in June 2017 to become CEO of Borsa Istanbul, the country’s main stock exchange.

He will fill the position left vacant after former deputy governor Murat Uysal was appointed as the new governor in July. 

Erdoğan gave himself the power to hire and fire the governor and deputy governors of the central bank last summer, after he assumed increased presidential powers following presidential and parliamentary elections.