Recep Tayyip Erdoğan has appointed a former US banker as the country’s central bank chief in the latest sign that Turkey’s president may be changing course on his unorthodox policies that have ignited a painful cost of living crisis and sent the lira sinking to record lows against the dollar.
Hafize Gaye Erkan, who has held senior roles at Goldman Sachs as well as failed regional US lender First Republic, will be the first woman to head Turkey’s central bank. She will take the reins from Şahap Kavcıoğlu, who had sharply cut interest rates at Erdoğan’s behest.
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