ANKARA (Reuters) - The head of Turkey’s central bank said on Monday that a 100 basis-point interest-rate cut last month was not a surprise and had little to do with the selloff that resulted in the lira.Responding to questions from a parliamentary commission, Governor Sahap Kavcioglu said the central bank had not neglected its duties in cutting the policy rate to 18% from 19%."I can say very clearly that we did not carry out a surprise cut," he said after a presentation to the planning and budget commission.Kavcioglu added that inflation - which is near 20% after a year-long rise - is following a volatile course and that the bank will take into account risks while determining its policy.In a Reuters poll last month, only two of 20 economists predicted a rate cut. In response to the cut, the lira currency tumbled to a series of record lows against the dollar, which itself has firmed in recent weeks, adding to the selloff.The lira touched an all-time low again on Monday of 8.975 against the greenback.Analysts viewed the policy easing as fresh evidence of political interference by President Tayyip Erdogan, an opponent of high interest rates who had long called for monetary stimulus despite the soaring prices.Citing sources, Reuters reported on Friday that Erdogan was irked that the policy easing took so long and he is losing confidence in Kavcioglu, less than seven months after he sacked his predecessor.Tatha Ghose, analyst at Commerzbank, said rates will come down under any bank governor appointed by Erdogan."The FX market has every reason to price in lower interest rates in coming quarters, which is exactly what it has been doing, thereby resulting in noticeable underperformance of the lira exchange rate," he wrote in a client note.At the hearing, Kavcioglu said that central bank reserves have stabilized after a decline in recent years and were on an upward trend. Data shows net foreign reserves have risen since April.Reporting by Nevzat Devranoglu, Ali Kucukgocmen and Ezgi Erkoyun; Writing by Daren Butler; Editing by Jonathan Spicer and Alistair Bell Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.