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.

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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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