Central bank independence: An adult in the room, whether UK or emerging markets?
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The early days of the Truss-Kwarteng duo in the UK demonstrate how quickly macroeconomic policy credibility can be lost
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Many years of Erdogan in Turkey demonstrates how long policy lacking credibility can last (and the damage it causes)
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Is central bank independence the answer? It might help, but it is by no means a sufficient guarantee of credible policy
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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