President Tayyip Erdogan is considering appointing Hafize Gaye Erkan, a senior finance executive in the United States, as central bank governor as Turkey prepares for a policy pivot, two senior officials with knowledge of the matter said.
Erkan met with Mehmet Simsek, Turkey's newly-appointed treasury and finance minister, in Ankara on Monday, one of the sources said. The two sources told Reuters she is set to meet Erdogan soon to discuss the possible role.
A former co-CEO at First Republic Bank and managing director at Goldman Sachs, Erkan could not be immediately reached for comment.to cabinet over the weekend, Simsek said the country has no choice but to return to "rational ground" to ensure predictability in the economy. She is respected in New York's financial industry and "considered tough, smart, and effective", said Kathryn Wylde, president and CEO of Partnership for New York City, a nonprofit organisation where Erkan once served as a board director.
The central bank has been the linchpin of Erdogan's programme of monetary stimulus and targeted credit to boost economic growth, exports and investments. The last central bank governor to raise rates, Naci Agbal, was fired in 2021 after less than five months on the job.
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