Erdogan appoints former US bank executive as Turkish central bank chief, in sign of policy change

ANKARA, Turkey (AP) — Turkey’s president has appointed Hafize Gaye Erkan, a former U.S.-based bank executive, to head the central bank. The appointment, announced on Friday, is considered a sign that Recep Tayyip Erdogan’s administration might pursue more conventional economic policies. The 41-year-old Erkan becomes the Turkish central bank’s first woman governor. Erdogan won a third presidential term in elections last month as the country grapples with a cost-of-living crisis fueled by inflation that reached 85% in October. Critics blame the turmoil on Erdogan’s “unorthodox” economic policies. On Saturday, Erdogan reappointed Mehmet Simsek, a respected former banker, as finance minister. Simsek and Erkan’s appointments are seen as an indication that Erdogan may abandon unconventional policies.