Turkey axes Central Bank gov.

ISTANBUL, Turkey on Saturday dismissed its Central Bank governor Murat Cetinkaya under a presidential decree.

The bank said in a statement carried by Turkey’s Anadolu news agency as saying that Cetinkaya was given the axe and replaced by his deputy Murat Uysal.

But, the bank failed to reveal the causes of the decree.

Uysal, 48, said in a maiden statement that he will continue to independently apply monetary policy tools to maintain price stability.

He also said that communication channels will be used in line with the bank’s targets.

Source: Kuwait News Agency