Turkey’s new cabinet almost certain to include Simsek
31 May 2023, 4:17 pm 1 minute
Reuters was two days ahead in reporting the blockbuster news that newly-elected President Tayyip Erdogan would select Mehmet Simsek to run economic policy. The cabinet appointment of Simsek, well respected in global financial markets for his orthodoxy, was a powerful signal that Erdogan was making a u-turn on policy after years of unorthodox interest rate cuts in the face of soaring inflation. The headlines slowed a plunge in the lira currency and added momentum to gains in equity and bond markets.
The headlines slowed a plunge in the lira currency and added momentum to gains in equity and bond markets.
Topics of Interest: Government
Type: Reuters Best
Sectors: Government & Public Services
Regions: Middle East
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story