Comparative analysis of central banks policies during the covid-19 pandemic process

The COVID - 19 pandemic has become global, spreading rapidly around the world in the first quarter of 2020 after it appeared in China in December 2019. In order to prevent the spread of the epidemic, the decision to restrict social life as well as economic life has negatively affected. Monetary, fiscal and regulatory measures have been implemented to mitigate the negative impact on economies. In this thesis, the similarities and differences of the monetary policies applied by the selected central banks (CBRT, ECB, FED, BCB, SARB) were positioned and the reflections of these policies on their economies were analyzed. In addition, the central bank implemented measures to the outbreak have determined the effect of economic indicators (Consumer Price Index (CPI), producer price index (PPI), current account balance, total exports, total imports Growth, capacity utilization, manufacturing PMI, per capita national income) were analyzed in a comparative manner on the basis of through 2020. In addition to monetary measures, financial and regulatory measures are also included. Credit flows have been provided and the monetary transfer mechanism has been strengthened to keep the real sector alive, which is more negatively affected by the monetary policy implemented by selected central banks. The financial policies implemented tried to eliminate the loss of income of households and businesses. Regulatory measures, on the other hand, were aimed at supporting/encouraging banks to continue the flow of credit to businesses and households. It has been concluded that with the policies implemented, selected central banks have reduced economic stress in the markets in the short term by taking quick and large-scale measures against the pandemic. Fiscal and monetary policies have been complementary. In addition, policy proposals have been produced based on studies that have achieved particularly successful results by identifying economic problems caused by the pandemic.