Interest Rate Pass-Through in Türkiye: Evidence of the Monetary Policy Approach
Nurcihan Akşehirli
Abstract:Central banks direct banks' rates by increasing or decreasing policy rates through the interest rate channel. The effectiveness of this channel is related to the interest rate pass-through. The pass-through of interest rates indicates the impact of changes in policy rates on the retail rates of banks. Pass-through is not only a prerequisite for the monetary transmission mechanism but also is the first stage of it. A complete and quick pass-through increases the effectiveness of the interest rate channel. This … Show more
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