Turkey's president approved the government's candidate Durmus Yilmaz as the new central bank governor, officials said on Tuesday, ending weeks of uncertainty and defusing a tense stand-off between the nation's institutions.
Financial markets have been unnerved by the failure to pick swiftly a successor to Sureyya Serdengecti, who successfully oversaw Turkey's recovery from a deep financial crisis in 2001.
Economy Minister Ali Babacan confirmed earlier comments to Reuters by officials that Yilmaz, born in 1947, had been approved by President Ahmet Necdet Sezer as the new bank chief.
British-educated Yilmaz, seen as a compromise candidate, has been a member of the central bank's assembly (executive board) since May 2003 and has worked at the bank since 1980.
Economists generally welcomed the appointment.
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