Turkey’s Yilmaz on central banks’ enhanced stability mandates

yilmaz

Durmuş Yilmaz, the governor of the Central Bank of Turkey, on Tuesday said vesting authority and responsibility for financial stability in central banks has its downside.

At a summit in Istanbul, Yilmaz said: "On the one hand, the benefit of vesting the decision-making power and responsibility under one institution, which happens to be the central bank, is clear: no coordination problem, more effective communication under one voice, and swift response to emergencies."

However, Yilmaz said there

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