Since the global financial crisis, central banks have used various policy tools to sustain financial stability in addition to price stability. Additional Monetary Tightening (AMT) is one of these tools that the Central Bank of the Republic of Turkey used in 2011–2012. The effects of this tool...

[TR] Kuresel finansal krizin ardindan, merkez bankalarinin fiyat istikrarinin yani sira finansal istikrari da gozetmeleri farkli politika araclarinin kullanimini gerekli kilmistir. Turkiye Cumhuriyet Merkez Bankasi tarafindan son donemde kullanilan politika araclarindan bir tanesi de Ek Parasal...

[TR] Kuresel finansal krizin ardindan, fiyat istikrarini saglamanin yani sira finansal istikrara da katki yapan bir merkez bankaciligi cercevesi akademisyenler ve politika yapicilar arasinda tartisilmaya baslanmistir. Turkiye Cumhuriyet Merkez Bankasi tarafindan son donemde uygulamaya konulan...

Reserve Options Mechanism (ROM), which is the option to hold FX or gold reserves in increasing tranches in place of Turkish Lira reserve requirements of Turkish banks, was designed and launched by the Central Bank of the Republic of Turkey (CBRT). ROM is a tool unique to the CBRT and it is aimed...

It is a well-known fact that there is a strong relationship between bank credit and economic activity. Thus, it is a reasonable question whether credit data can be used in nowcasting GDP growth. It is important for policymakers to make on-time decisions with the most available data. Most...

The shock waves of the 2008-09 global financial crisis and the 2011-12 Eurozone debt crisis hit emerging markets from the trade, the finance and the expectations channels. We focus on the finance channel in this paper. We first discuss the challenges arising from capital flow volatility in...

Reserve Options Mechanism (ROM), which is the option to hold FX or gold reserves in increasing tranches in place of Turkish Lira reserve requirements of Turkish banks, was designed and launched by the Central Bank of the Republic of Turkey (CBRT). ROM is a tool unique to the CBRT and it is aimed...

[EN] The Central Bank of the Republic of Turkey has started to implement its new policy mix since late 2010. In this new approach expectations, credit growth and reel exchange rate are monitored closely as key indicators for financial stability on top of price stability. The effect of this new...

It is a well-known fact that there is a strong relationship between bank credits and economic activity. Thus, it is a reasonable question whether credit data can be used in nowcasting GDP growth. It is important for policymakers to make on-time decisions with the most available data and...

After the global crisis, one of the most important lessons learned for the Central Banks has appeared to be the vital importance of financial stability along with the price stability. Hence, finding solutions to how to incorporate the financial stability objective in the implementation of the...