Tümen appointed deputy Central Bank governor

ANKARA

Professor Semih Tümen has been appointed deputy governor of Turkey’s Central Bank, replacing Oğuzhan Erbaş.

The presidential decree regarding the appointment was published in the Official Gazette. There are four deputy governors at the country’s Central Bank.

Tümen, economics department head at Ankara’s TED University, previously served as the director-general of economic research at the Central Bank from 2016 to 2018 and was also an advisor to the Human Resources Office of the Turkish Presidency.

Tümen studied economics at Turkey’s prestigious Middle East Technical University (ODTÜ). He received his master’s in econometrics and mathematical economics from the London School of Economics and Political Science in 2006. Tümen earned his Ph.D. in economics from the University of Chicago in 2012.

His research, which concentrates on labor economics, has been published internationally.

“He is an esteemed economist whose name is known in the market. I think his contribution will be strong,” said a central bank staffer who requested anonymity.

A Turkish banker said that his name is known in the market (and given) his macro knowledge, he will be prominent in the Central Bank’s Monetary Policy Committee.