Turkey Central Bank Gets Into Red as New Year Brings New Look

(Bloomberg) -- Turkey’s new central bank governor is quickly turning things around at the monetary authority -- even the look of its logo.

With the bank’s credibility restored by market-friendly messages and back-to-back interest-rate increases, Naci Agbal has turned to the finer details. He’s plumped for a red logo -- the shift from turquoise inspired by the country’s flag, according to a person with direct knowledge of the change. The central bank declined to comment.

Agbal, who inherited double-digit inflation, a tumbling lira and depleted foreign-currency reserves, pledged to keep policy tight and prioritize price stability in 2021. Investors and economists have welcomed his stewardship.

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