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Turkish officials are reportedly holding talks to appoint new members to the central bank’s Monetary Policy Committee (MPC) ahead of the planned retirement of Deputy Governor Cevdet Akcay next year.
Akcay, who turns 65 in April, is expected to step down as he reaches the legal retirement age.
According to people familiar with the matter, an extension of his term is considered unlikely, Bloomberg reported.
Appointed in July 2023 following the shift toward orthodox policies, Cevdet Akcay has been regarded as one of the most hawkish policymakers on Türkiye’s central bank board, playing a key role in the monetary tightening process that has kept the policy rate above 40% since late 2023.
During his tenure, headline inflation eased to 33.29% as of September 2025, down from a peak of 75.45% in May 2024, while the policy rate was raised to 50% in November 2023 and remained unchanged until December 2024.
According to the report, officials led by Treasury and Finance Minister Mehmet Simsek are considering appointing one or two new policymakers to the MPC before April to ensure continuity in monetary strategy.
The discussions remain private, and potential candidates have not been disclosed, though at least one of the new seats may go to an existing CBRT official, the people said.
Another option is said to be for Akcay to remain on the MPC even after stepping down as deputy governor, as there is no age restriction for serving in that capacity.
The MPC currently has seven seats, of which five are filled—including Governor Fatih Karahan, deputies Cevdet Akcay and Hatice Karahan, and members Elif Haykir Hobikoglu and Fatma Ozkul.
Two deputy governor positions remain vacant.
All appointments are subject to the approval of President Recep Tayyip Erdogan.
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