Monetary policies implemented in Türkiye since 2010

​The effects of the global economic crisis prompt countries to intervene in the markets using various monetary policy tools. The global financial crisis of 2008 had a significant impact on the economies of countries. In order to cope with this crisis, countries moved beyond traditional policy tools and adopted new monetary policy frameworks to mitigate the negative effects of the crisis. Within this context, the Central Bank of the Republic of Turkey (CBRT) diversified its policy tools by adding the interest rate corridor, required reserve policies, the Reserve Option Mechanism (ROM), and liquidity management to its policy interest rate, taking steps to ensure financial stability without compromising price stability. This study will examine the developments following the implementation of the CBRT's monetary policy after 2010, analyzing how the new approach shaped the policy tools aimed at achieving both price stability and financial stability during this crisis period. Furthermore, the study will assess how the CBRT targeted its goals and utilized these tools to minimize the crisis's impact, including a discussion of the monetary policy applied during the pandemic period.