Central Bank of the Republic of Turkey

About the organization

The Central Bank of the Republic of Turkey (CBRT ), was founded as a joint stock company on 11 June 1930. The CBRT determines, at its own discretion, the monetary policy to pursue and the policy instruments to use in achieving price stability in Turkey. This implies that the CBRT enjoys instrument independence. In order to attain its objective of price stability, the CBRT has implemented a full-fledged inflation targeting regime since 2006. The Bank had, originally, a privilege of issuing banknotes for a period of 30 years. In 1955, this privilege was extended until 1999. Finally, it was prolonged indefinitely in 1994.