Monetary Policy of Central Bank of the Republic of Turkey after Global Financial Crisis

Başçı E.

INSIGHT TURKEY, cilt.14, sa.2, ss.23-26, 2012 (ESCI) identifier

  • Yayın Türü: Makale / Editöre Mektup
  • Cilt numarası: 14 Sayı: 2
  • Basım Tarihi: 2012
  • Dergi Adı: INSIGHT TURKEY
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus
  • Sayfa Sayıları: ss.23-26
  • TED Üniversitesi Adresli: Hayır

Özet

The recent global financial crisis presented substantial challenges and lessons for all economic agents. One of the most important lessons learned was the indispensability of financial stability for the smooth functioning of the economy as a whole. The Central Bank of the Republic of Turkey (CBRT), being aware of the conditions that new global economic conjuncture necessitates, decided to modify its existing framework of inflation targeting by adopting a new policy by using required reserve ratios and interest rate corridor. The new policy mix approach preserves the main objective of achieving and maintaining price stability while safeguarding financial stability as a supporting objective.