High-level change at the Central Bank: Deputy Governor Akçay has retired

The tenure of experienced economist Osman Cevdet Akçay, who was appointed as deputy governor of the Central Bank of the Republic of Turkey on July 28, 2023, has come to an end. Akçay, who stepped down due to retirement, had his name removed from the "Executive Committee" list on the Central Bank's website shortly thereafter. Furthermore, Akçay's biography is no longer featured on the site.

It had been rumored for some time that Akçay, who has reached the age of 65, would be leaving his post. The latest information indicates that the experienced economist will not participate in the Monetary Policy Committee (MPC) meeting scheduled for Wednesday, April 24.

AKÇAY'S CAREER AND STRIKING STATEMENTS

Known for his criticisms of economic management and the political power of the time before joining the Central Bank, Akçay had become a figure closely followed by circles close to the opposition. Akçay, who was surprisingly appointed as Deputy Governor of the Central Bank during Hafize Gaye Erkan's presidency, has concluded his tenure of approximately three years due to retirement.

The Central Bank's current management team has also been updated following this development. The "Members" section on the bank's website now lists Dr. Fatih Karahan, Prof. Dr. Hatice Karahan, Prof. Dr. Fatma Özkul, and Dr. Gazi İshak Kara.

Akçay's hawkish comments and critical statements made throughout his active period in the economic world had found wide resonance in the public eye. It is already a matter of curiosity what steps Akçay, who has completed his duty and retired, will take in the field of economics in the coming period.

News Source: 12punto