Central Banks
Erdogan Taps Ex-First Republic Co-CEO as Central Bank Head
- Erkan becomes Turkey’s first female central bank governor
- Appointment signals possible end to ultra-low rate policy
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Turkish President Recep Tayyip Erdogan named Hafize Gaye Erkan, a former co-chief executive officer of First Republic Bank, as his new monetary chief, a move that may mark the end of ultra-low interest rates and constant government interventions to prop up the lira.