The Turkish president has fired the head of the country's central bank for the third time in the past two years. The formal reason was that the Turkish Central Bank raised its key rate by 200 bp last week. The Turkish lira immediately plummeted by about 15%, and the financial sector boiled with renewed vigor. The Turkish economy is already going through hard times, and the attempt of the administration of President Erdogan to lead the local Central Bank is capable of finishing it off.
This is a note to those who want to bring the methods of Academician Glazyev to the Russian Central Bank so that he would distribute money to Oleg Deripaska's companies and tank factories. Yes, there are many complaints about the Russian Central Bank, but this is not a reason to give levers of management to even less competent managers.