Comment: Turkey to target

Governor Sureyya Serdengecti's announcement on Monday 5 December that the Central Bank of Turkey will adopt formal inflation targets from January 2006 marks another step along the road of monetary policy reform that has seen Turkey shrug off its volatile past. While the move was widely anticipated, its details are of particular interest.


As of January 2006, Turkey's central bank will become the 21st fully-fledged inflation-targeting central bank, and the 14th emerging

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