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Turkish President Recep Tayyip Erdogan, early Saturday, removed as central bank governor and replaced him with the bank’s deputy governor, according to a presidential decree published on the official gazette.
Murat Cetinkaya, who had been serving as the governor since April 2016, was removed from the role and was replaced by his deputy Murat Uysal, the order showed.
According to a statement by the Central Bank of the Republic of Turkey (CBRT), Uysal said in his first remarks as governor that he will continue to "independently apply monetary policy tools to maintain price stability."
He also said that communication channels will be used at the highest level in line with the price and financial stability goals in line with the central bank's targets.
