Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...

Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11. However, the current account deficit widened to around 10% of GDP in 2011 and consumer price inflation rose to over 10%....

As a result of joining the global trend of the monetary policy modernization, Romania has adopted the inflation targeting strategy in August 2005. Although the implementation conditions have been prepared in advance on the background of a medium-term disinflation process, the National Bank of...