Turkey’s central bank deputy governor to leave: report

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Governor of Central Bank of the Republic of Turkey (CBRT), Murat Cetinkaya and Deputy Governor Erkan Kilimci (L). AFP PHOTOS

Turkish Central Bank Deputy Governor and ratesetter Erkan Kilimci is leaving the bank, three sources familiar with the matter told Reuters.

Kilimci is joining the board of the Development Bank of Turkey, according to a document it released on Thursday.

The central bank was not immediately available for comment on Thursday, a public holiday in Turkey.

“Kilimci had no disagreements with the central bank administration on any issues — including interest rates. His expertise will be employed at another public position, that’s all,” one senior source told Reuters.

The central bank has been under pressure from President Recep Tayyip Erdoğan not to increase interest rates, despite high inflation and the lira having depreciated more than 40 percent against the dollar this year.

The lira traded at 6.7250 at 1205 GMT, having touched 6.85 after reports of Kilimci’s departure emerged.

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