The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country’s central bank.
In a late night decree published hours after he met Sahap Kavcioglu, the bank’s governor, Erdogan removed two deputy governors.
One of them, Ugur Namik Kucuk, was the only member of the bank’s eight-member monetary policy committee to oppose a rate cut that shocked international investors last month, according to two people familiar with the matter.
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