Comments from Turkish central bank (CBRT) Governor Erdem Basci earlier today that the Bank is planning to move away from using its complex interest rate “corridor” and towards the use of a single policy rate should be welcomed as this would help to improve the transparency of monetary policy. But the CBRT has reneged on pledges to stick to a single policy rate in the past and there seems to be a good chance that it could revert to using the “corridor” again in the future too.
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