A Quote by Ali Babacan
Turkey does not have an official exchange rate target.
Related Quotes
If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble.
The U.S. berates China for its exchange rate policy, which Washington doesn't like. But one-sided pressure on China to change its exchange rate is misplaced.
A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.
That's the ultimate goal of most turkey recipes: to create a great skin and stuffing to hide the fact that turkey meat, in its cooked state, is dry and flavorless. Does it have to be that way? No. We just have to focus on what the turkey is and what the turkey needs.
There are of course economic advantages to having Turkey as a member of the European club. It's a developing country with a large, reasonably well-trained labor force at a time when the European birth rate is dropping at a catastrophic rate and Europe is graying. It offers opportunities for greater trade and investment to the benefit of both Turkey and Europe.
What is the right exchange rate at one point is not necessarily the right exchange rate at another.
When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.
The IMF insisted that both Russia and Brazil maintain their currency at over-valued levels. Who are you protecting when you try to maintain that exchange rate by having high interest rates? You're protecting domestic and foreign firms that have gambled on the exchange rate. And who is paying the price? The small businesses that did not gamble [and no longer can afford loans], the workers who are going to be put out of jobs.
Mom cooked a lot of turkey when I was growing up. Turkey meatloaf, turkey burgers, ground turkey shepherd's pie - my childhood was the Bubba Gump of turkey. You'd think I would be sick of it, but when I find gems like Gwyneth Paltrow's turkey meatball recipe, it's as though the fowl is no longer foul to me.
After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.
Monetary policy is like juggling six balls... it is not 'interest rate up, interest rate down.' There is the exchange rate, there are long term yields, there are short term yields, there is credit growth.
Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
Turkey's relations with its immediate neighbors are improving. They were pretty bad for a long time - with Syria they were abominable, and with Iran they were pretty bad. In both cases Turkey sees potential for trade, especially with Iran, where it gets a lot of natural gas. In good times Iran and Turkey find mutually profitable objects of exchange, but with Syria things have been very bad; Syria doesn't have much money and never will.
There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe haven if international exchange rates break down.
The stability of the rate is the main issue and the Central Bank manages to ensure it one way or another. This was finally achieved after the Central Bank switched to a floating national currency exchange rate.
Related Authors
Alexander Hamilton Quotes
American
Politician
Benjamin Franklin Quotes
American
Politician
Bernie Sanders Quotes
American
Politician
David Brooks Quotes
American
Politician
Hillary Clinton Quotes
American
Politician
Jill Stein Quotes
American
Politician
John F. Kerry Quotes
American
Politician
John McCain Quotes
American
Politician
Marco Rubio Quotes
American
Politician
Mitt Romney Quotes
American
Politician
Narendra Modi Quotes
Indian
Politician
Newt Gingrich Quotes
American
Politician
Paul Ryan Quotes
American
Politician
Rand Paul Quotes
American
Politician
Ron Paul Quotes
American
Politician
Ted Cruz Quotes
American
Politician