Turkish President Recep Tayyip Erdogan has fired the boss of the Turkish central bank, Murat Cetinkaya. The government announced this on Saturday. Erdogan had been critical of the work of Cetinkaya for months, who was held responsible for the towering inflation and volatility of the Turkish lira.

Cetinkaya, who held the position since April 2016, is replaced by Murat Uysal. Uysal was previously vice-president of the central bank.

Erdogan and the Turkish Minister of Finance, the son-in-law of Erdogan, lashed out several times in the past year at the central bank. They accuse the bank of failing policies due to the volatile lira and high inflation of the country.

The Turkish lira has lost 10 percent of its value against the dollar this year. Turkey is also struggling with skyrocketing 15 percent inflation. The bank has tried to combat this with a high interest rate. This against the sore leg of Ankara, which wants to see lower interest rates to get the economy going.

In a statement, the central bank said on Saturday that the bank will remain independent and that the new head of the bank will also continue to pursue the goal of the central bank, price stability.

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