The Revival Of “Hyperinflated” Turkish Lira
Inflation targeting is a successfully pursued monetary policy in countries who suffered high inflation for years such Zimbabwe. Turkey also set a new policy framework in purpose to lower the inflation and stabilize the currency rates. Under normal circumstances interest rates are expected to raised by the central bank provided that Turkey is...
The Limits of Rationality in Monetary Policy
When your search for “central bank government pressure” on Google, the top three results are related to Turkey just hours before the monetary policy committee meeting to take place. Central bank independence has been one of the most important policies imposed by the International Monetary Fund in less developed countries since mid 90s....