Turkey’s new cabinet almost certain to include Simsek
Two days before the blockbuster news of President Tayyip Erdogan's selection of Mehmet Simsek to manage economic policy was officially announced, Reuters reported it. This cabinet appointment was seen as a strong indication that Erdogan was reversing his unorthodox interest rate cuts in the face of high inflation. The news had a positive effect on the lira, as well as on equity and bond markets.0
