THE CONCEPT OF CENTRAL BANKS INDEPENDENCE

In this study, firstly the concept of functions and powers of central banks is tried to be explained and the concept of the independence of central banks is investigated. With the kinds of independence term, independence measure of central banks is analyzed. At the same time, the importance of the independence of the central banks is emphasized and in this regard, independence measure of some central banks and the effects of these independence values on the country s economy are examined. Central banks examined in accordance with this purpose are fed, european central bank, german central bank and tcmb(central bank of turkey).