Daily Memo: Turkish Bank Chief Sacked, US Defense Chief Visits India

The firing precipitated a sharp drop in the lira and the Istanbul stock market.

Bank chief sacked. Over the weekend, Turkish President Recep Tayyip Erdogan fired Nachi Agbal, the third head of the central bank in two years, a week after the bank increased the interest rate to contain inflation, a move Erdogan opposed. The Turkish currency plunged by 14 percent on Monday, and trading on the Istanbul stock […]

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