Turkey: Selected Issues

International Monetary Fund

No 2012/339, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; rate; saving; exchange rate; GDP; saving rate; Turkey current account adjustment dynamics; import reliance; household savings; CBRT Policy; Current account deficits; Interbank rates; Loans; Private savings; Global; Middle East (search for similar items in EconPapers)
Pages: 49
Date: 2012-12-21
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Citations: View citations in EconPapers (1)

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