MADRID, 9 Jun. (EUROPA PRESS) -

Hafize Gaye Erkan has been appointed as the new governor of the Central Bank of Turkey, thus becoming the fifth person in charge of the entity in the last four years and the first woman to assume the reins of the country's monetary policy.

The new governor of the Central Bank of Turkey has spent most of her professional career in the financial sector, having worked for almost a decade at Goldman Sachs and later spending eight years at First Republic Bank, a US regional bank where she became co CEO, although she left the entity in January 2022.

Erkan's appointment, published this Friday in the Official Gazette and signed by Turkish President Recep Tayyip Erdogan, is expected to mark the beginning of a turn in the monetary policy implemented in recent years in Turkey.

The Central Bank's Monetary Policy Committee (MPC) has scheduled its first meeting under the presidency of the new governor on June 22.

Along with the announcement of Erkan's appointment, the Official Gazette also reports the decision to appoint Sahap Kavcioglu, Governor of the Central Bank of Turkey since 2021, as head of the Banking Supervision and Regulation Agency (BDDK), the banking watchdog from Turkey.