Half of the Voters: Higher Interest Rate Is the Reason for Agbal’s Dismission

Half of the Voters: Higher Interest Rate Is the Reason for Agbal’s Dismission

50.3% of voters think that Naci Agbal was dismissed because he did not lower the interest rate.

After the transition to the presidential system, uncertainty increased in the Turkish economy. Berat Albayrak, the first Treasury and Finance Minister of the presidential system, defended the low-interest policy. In order to implement this policy, a change was made in the management of the Central Bank, and Murat Uysal was appointed. However, for an unknown reason, Treasury and Finance Minister Berat Albayrak resigned in November 2020. Subsequently, the Chairman of the Central Bank was dismissed once again and Naci Agbal was replaced.

The appointment of Naci Agbal was perceived as a change in monetary policy. As a matter of fact, after Agbal took office, he increased the interest rate one after the other. However, a few months after the reshuffle, the Central Bank Governor was dismissed once again.

The Turkey Monitor asked voters the reason for the dismissal. 50.3% of the participants say that Naci Agbal was dismissed because he did not comply with President Erdoğan’s decision to lower the interest rate. The rate of those who did not know the reason for the dismissal was 36.7%. The rate of those who stated that Naci Agbal was dismissed due to his failure was 13%.

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