tcmb speech, 2006-12-14
Since higher exchange rate volatility relative to inflation volatility decrease the hedging benefits of foreign currency assets, this monetary policy framework can be said to help the process of 'liraization', a term that was suggested by Dr. Leiderman at the conference on 'Inflation Targeting: Performance and Challenges' hold by the Central Bank of Turkey at the beginning of this year.
Sentiment: neutral
Topic: mp_economic_activity