Wednesday, December 22, 2010
This post already appeared in Hurriyet Daily News this week; Roubini Global Economics Emerging Markets EconoMonitor is just republishing it, but I just wanted to cross-link for the readers who might have missed it the first time around...
There is also an addendum in the blog. Although I do not say anything new, I provide a neat summary of, as well as hyperlinks to, my previous writings (and a related article on RGE) on the CBT's latest rabbit-pulling out of its monetary policy.
BTW, I will have a real addendum on yesterday's Monetary and FX Strategy later tonight in the blog, which I may submit to RGE as well. As a spoiler: I believe the CBT is now in implicit-non inflation targeting or implicit current account targeting mode... Bad, very very bad, as Babuuuuuuuuu would say.