Turkey: Selected Issues
December 21, 2012
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This Selected Issues paper on Turkey discusses the new monetary framework adopted by the Central Bank of Republic of Turkey (CBRT). Instead of relying on one interest rate as inflation-targeting, the CBRT resorted to raising it as inflation pressures intensify and lowering it as they abate. The first version of the framework does not seem to have achieved significant reduction in external and internal imbalances, but the second version of the framework has witnessed an unwinding of imbalances.
Subject: Balance of payments, Banking, Current account deficits, Financial institutions, Financial services, Foreign exchange, Interbank rates, Loans, National accounts, Private savings
Keywords: CBRT Policy, CR, Current account deficits, exchange rate, GDP, Global, household savings, import reliance, Interbank rates, ISCR, Loans, Middle East, Private savings, rate, saving, saving rate, Turkey current account adjustment dynamics
Pages:
49
Volume:
2012
DOI:
Issue:
339
Series:
Country Report No. 2012/339
Stock No:
1TUREA2012004
ISBN:
9781475586572
ISSN:
1934-7685
