Turkey’s new cabinet almost certain to include Simsek
Reuters
Reuters was two days ahead in reporting the blockbuster news that newly-elected President Tayyip Erdogan would select Mehmet Simsek to run economic policy. The cabinet appointment of Simsek, well respected in global financial markets for his orthodoxy, was a powerful signal that Erdogan was making a u-turn on policy after years of unorthodox interest rate cuts in the face of soaring inflation. The headlines slowed a plunge in the lira currency and added momentum to gains in equity and bond markets.
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