New Monetary Policy Approach in Turkey Against Financial Systemic Risk

Ranat Eskinat
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Ranat Eskinat: Anadolu University, Eskisehir, Turkey

South-Eastern Europe Journal of Economics, 2014, vol. 12, issue 2, 201-214

Abstract: This paper explains the underlying motivation for the decision of the Central Bank of the Republic of Turkey (CBRT) to adopt a flexible monetary policy since 2010. In this context the paper provides an overview of the framework and summarizes the initial results. Specifically, the paper begins by giving a historical perspective to provide motivation, then presents an overview of the key changes to the framework, including both monetary and macro-prudential instruments. Lastly, the study lays out a discussion of the initial outcomes owing to the changes to the new monetary policy framework.

Keywords: Systemic risk; Monetary policy; Financial stability; Macro-prudential policy; Central Bank of the Republic of Turkey (search for similar items in EconPapers)
JEL-codes: E52 E58 E63 G28 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:seb:journl:v:12:y:2014:i:2:p:201-214

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