Turkey: Life After Coup Attempt
On July 15, there was a strategically inept and thankfully failed coup attempt in Turkey, which, in fact, was destined for failure and would lead nothing but a civil war. It was that latest mishap in a long series of political events, and is now being followed by a purge of civil servant...
Central Bank Independence Attacked Again
The 2001 crisis and the following the post-crisis period were important milestones for economic policy-making in Turkey as well as for the monetary policy. In 2002 Turkish Central Bank adopted a modern monetary policy with primary objective of achieving price stability after the bank had been vested with instrument independence in the previous year....
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...