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We analyse the effects of inflation and growth uncertainty on the monetary policy reaction function of the Central Bank Republic of Turkey (C.B.R.T.), considering possible asymmetries in the reaction function over the business cycle. We follow Bec, Salem, and Collard's approach in order to specify an asymmetric reaction function suggesting that central banker interventions are influenced by business cycles. Our results reveal that the C.B.R.T. has asymmetric preferences. We find that thedoi:10.1080/1331677x.2018.1481445 fatcat:26fqgdtm55bjhc7b5go2dqfnja