Fatih Karahan Appointed New Central Bank Chief of Turkey

Fatih Karahan steps in as Turkey's central bank governor following Hafize Gaye Erkan's resignation amid a media scandal.

Fatih Karahan, previously Deputy Governor and a former senior economist at Amazon, has been named the new head of Turkey's central bank.
Hafize Gaye Erkan resigned as central bank chief, citing a need to protect her family from a reputation assassination campaign.
Erkan's resignation comes after her aggressive interest rate hikes began cooling inflation expectations, marking a significant shift from previous policies.
The economic program initiated under Erkan, aimed at stabilizing the Turkish economy, is expected to continue under Karahan's leadership.
Karahan's appointment is seen as a continuation of the tight monetary policy stance, with inflation expected to start decreasing around mid-year.