Recep Erdogan fired three central bankers after a meeting with the president of the Turkish central bank Sahap Kavcioglu. Official announcement has followed.

In a midnight decree on Wednesday evening Semih Tümen, Ugur Namik Küçük and member of the monetary policy committee Abdullah Yavas were dismissed. Erdogan appointed Taha Çakmak as deputy chairman and Yusuf Tuna as a member of the monetary policy committee.

Erdogan is losing confidence in Kavcioglu. His predecessor was fired less than seven months ago. On Wednesday, Küçük was the only policy maker who voted against last month’s cut in interest rates. The other two dismissed members also disagreed with Erdogan’s calls to lower interest rates.

The Turkish lira fell 1.1 percent Thursday morning. For one dollar they now get 9,1883 lira, a new low for the Turkish currency.

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