HEADS UP: Babacan and Simsek rumors

TURKEY - In Brief 09 Jul 2018 by Atilla Yesilada
I don't trade in rumors, but the sudden two-way moves in dollar/TL require some explaining.In early hours of the day rumors spreading from different sources, perceived as credible claimed Simsek, and even Ali Babacan have been appointed to the Cabinet. Murat Cetinkaya will be asked to resign. In the afternoon, a presidential decree revised the Central Bank law, giving Erdogan wide latitude in appointing MPC members. I refuse to comment about these developments, because as I said I don't want to be put in the position of a rumor monger. I'm just trying to make sure there are no informational asymmetries among our audience. An update on Cabinet will be issued early Tuesday morning.

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