Turkey’s new cabinet hints at less unorthodox Erdoganomics

ISTANBUL — Turkey’s longest-serving leader, President Recep Tayyip Erdogan, has announced a new cabinet headlined by a former London-based banker as treasury and finance minister.

Mehmet Simsek, who was head of fixed-income strategy and macroeconomic research for the emerging Europe, Middle East and Africa region at Merrill Lynch, advocates for a traditional economic policy. His appointment signals a possible departure from the president’s unorthodox playbook, symbolized by an obsession with lower interest rates.