CENTRAL BANK INDEPENDECE: COMPARISON OF THE EUROPEAN CENTRAL BANK AND CENTRAL BANK OF THE REPUBLIC OF TURKEY

Central banks fulfill missions like financing governments, contributing the improvement of the financial system, applying monetary policy, circulating domestic currency, ensuring price stability, and protecting th value of domestic currency. their independecy is important while ensuring these missions. durig 1907s inflation rates increased all over the world. this event brought up to examine the structure of the central banks. the opinon that the central banks which have an independent structure are more successful on ensuring the price stability with evading the political effects became stronger. in this paper central bank independecy is studied and the central bank of the republic of turkey is examined according to independency in comparison with the european central bank during the accession process to european union