"In Turkey the objective of price stability is threatened," he said. Erdogan was trying to push the economy. This led to higher inflation and the currency crashed. The central bank could stop this trend by raising intrest rates. In return, this could slow down growth.
Critics argue that the national bank's independency also frees itself from political control. According to Wieland, this does not hold true. "As long as the central banks act within their mandate, this is no problem because this mandate, which is the central bank's objective, has been determined by the parliament," he said.
Deutsche Welle: "Warum sollen Zentralbanken unabhängig sein?"