Turkish governor defends policy framework

Turkey's central bank should keep its policy framework although inflation targets have been missed two years in a row, said Durmus Yilmaz, the governor.

"No central bank in its right mind can rejoice in the fact that it has missed its target two years in a row," Yilmaz said in an interview with the Financial Times this week. "It is a huge credibility problem for the central bank."

But, Yilmaz argues, the right policies were in place. He said that sticking with an inflation target that the centr

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