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Report: Turkey central bank removes chief economist, others; lira down

The Türkiye Cumhuriyet Merkez Bankası AS has removed at least nine senior officials from their posts, a month after President Recep Tayyip Erdoğan ousted the central bank's governor, the Financial Times reported, citing two people familiar with the matter.

Central bank Chief Economist Hakan Kara and heads of banking and finance and monetary policy units are among those who have been moved to other positions.

Erdoğan tapped Murat Uysal to replace Murat Çetinkaya as the central bank's governor in July amid widening differences in opinion between the government and Çetinkaya over the country's monetary policy.

The Turkish central bank cut its key rate by more than 400 basis points in its first decision under Uysal's leadership, marking the first rate cut since 2016.

The lira was down 0.5% against the dollar around 5 a.m. ET.