Turkish Central Bank fails to combat inflation
The governor of Turkey's Central Bank has done well in financial stability, but time is running out for him to control inflation.
Turkey’s Central Bank, whose resistance to government pressure to lower interest rates proved to be the right decision, has not had the same success in ensuring financial stability by controlling inflation.
The Central Bank’s record against inflation has been dismal not only this year, but for several years. Since Erdem Basci was appointed its governor in 2011, none of the bank's inflation aims have been achieved.
