Turkey Is a Great Example of How Not to Treat a Central Bank, BIS Says

Look to Turkey to see the cost of political meddling with central banks, according to the Bank for International Settlements.

“You see the government undermining the autonomy of the central bank and at the same time you see the negative consequences,” BIS General Manager Agustin Carstens said in a phone interview accompanying the institution’s annual economic report. Looking at Turkey, other countries can “see what happens when the government tinkers with the autonomy.”