Small open economy central banks have to be more open-minded – interview with Hakan Kara

Hakan Kara, the chief economist of the Central Bank of the Republic of Turkey delivered a lecture at a course of the MNB Department (Theoretical and practical challenges in monetary policy). After the lecture Mr. Kara gave an interview to Kristóf Lehmann (Head of the MNB Department) about the monetary policy lessons of the crisis for emerging economies, international monetary policy spill-overs, the effects on the Turkish economy and how the Central Bank of the Republic of Turkey responded to the challenges.