Turkish cenbank’s deputy governor Kilimci to resign

The Turkish central bank’s deputy governor and Monetary Policy Committee member Erkan Kilimci is set to resign, two sources familiar with the matter told Reuters.

The Development Bank of Turkey released a document on Thursday showing Kilimci had joined its board. The central bank was not immediately available for comment Thursday, a public holiday in Turkey.

The central bank has been under pressure from President Recep Tayyip Erdogan not to increase interest rates, despite high inflation and the lira having depreciated more than 40 percent against the dollar this year.

The lira traded at 6.7250 at 1205 GMT, having touched 6.85 after reports of Kilimci’s resignation emerged.