[HIGHLIGHTS] Turkey: Erdogan appoints finance manager Hafize Gaye Erkan as head of the central bank

Hafize Gaye Erkan is the fifth female central bank governor in four years. She replaces Sahap Kavcioglu, who spearheaded Erdogan's interest-rate cutting policy.

Erkan's strategy as head of the central bank is difficult to predict because she has no formal monetary policy experience in her career on Wall Street and in the boardrooms of American companies. She holds a Ph.D. in financial engineering from Princeton University and worked for First Republic Bank for almost eight years until December 2021.