PM picks deputy governor Çetinkaya as Turkey's next Central Bank chief: Officials

The Turkish government has chosen Murat Çetinkaya, a deputy Central Bank governor, to be the Bank's new governor, Deputy Prime Minister Numan Kurtulmu? announced on April 11 after a cabinet meeting led by Prime Minister Ahmet Davuto?lu in ?anl?urfa on April 11.

The term of current Governor Erdem Ba?ç? was due to expire on April 19 and uncertainty over whether he will be reappointed or whether someone else will be named in his place has unsettled financial markets.

Before the announcement, a government official and an economy official both told Reuters that Davuto?lu's decision had been discussed with President Recep Tayyip Erdo?an Erdo?an and Çetinkaya's name was circulated for approval at a cabinet meeting later yesterday. 

Turkish Deputy Prime Minister Mehmet ?im?ek also said in ?anl?urfa that the new Central Bank governor would be from within the Bank and would be identified "today or tomorrow," Anadolu Agency had reported earlier on April 11.  

"We have come to the final stage in naming the new Central Bank governor. Last week we discussed the issue with our prime minister and then our PM with our president [Erdo?an]. The new Central Bank governor will be named today or tomorrow and will be from the bank," ?im?ek had said ahead of the signature of the related decree. 

Following the cabinet's approval, the decree will be presented to Erdo?an's approval.

Both optimistic and cautious reactions voiced  Çetinkaya has been a deputy governor since June 2012. He has a background in Islamic banking, beginning his career at Albaraka Türk and working as a deputy director at Islamic lender Kuveyt Türk in his last private sector position before joining the Central Bank.

"Compromise candidate, so good that the...