Thursday 02nd October 2014,
Turkish Market News

GDP Growth and Potential Output in Turkey

GDP Growth and Potential Output in Turkey

It is strange to see that economists taking part in analyzing Turkey do not have a consensus about the third quarter growth projections. Turkey reported a year-over-year growth rate of 2.1% in the second quarter in which exports as a positive contributor to the growth surprised to the upside while investment significantly remained weaker. On [...]

September 25, 2014 Oguz Erkol Macro View 0

Turkey: Housing Bubble Update

Turkey: Housing Bubble Update

Turkey’s house prices bull market momentum as a consequence of years of negative real interest rates policy, which is somehow called tight by Central Bank of Turkey, is rapidly translating into positive economic data as illustrated not by the unemployment rate surging to 9.9% in seasonally adjusted terms, or the GDP growth reported to be [...]

September 15, 2014 Oguz Erkol Macro View 0

What Fee Restriction Would Mean for the Stocks

What Fee Restriction Would Mean for the Stocks

Huseyin Aydin, head of the Turkish Banks’ Association, said that he expects the regulator to publish new rules that limit fees and commission charged by the banks (read the Bloomberg story here). This has been longstanding topic in the industry and eventually it will be likely made come true by the regulator. This will also [...]

August 22, 2014 Oguz Erkol Business Reports 0

Which Industries Create Most Jobs in Turkey

Which Industries Create Most Jobs in Turkey

The day before I posted this article Turkey’s Finance Minister Mehmet Simsek had been complaining that state is growing in Turkey by giving the number of people employed in public utilities. Surprisingly he had been criticizing employment policies, and consequently the government while changes in the Cabinet is on the agenda. But then we saw [...]

August 19, 2014 Oguz Erkol Macro View 0

The Curious Case of Asya Bank

The Curious Case of Asya Bank

Asya Katilim Bankasi A.S. (ASYAB) is the third largest Islamic lender in Turkey by assets which is backed by Gulenist capitalists making it become a target as the government declared war against Gulen movement and called it public enemy number one. As well known, the breaking point was the graft investigation conducted by the prosecutors [...]

August 11, 2014 Oguz Erkol Business Reports 0

2015: The Year of Hyperinflation’s Return?

2015: The Year of Hyperinflation’s Return?

Turkey’s year-on-year inflation target has never been achieved and it seems like this setback will continue this year. The inflation data for July came out this morning and shocked many economists covering Turkey whose CPI estimates around 9% were beaten by the actual numbers. According to Turkey’s Stats Office, consumer price index in July was [...]

August 4, 2014 Oguz Erkol Macro View 0

The Revival Of “Hyperinflated” Turkish Lira

The Revival Of “Hyperinflated” Turkish Lira

Inflation targeting is a successfully pursued monetary policy in countries who suffered high inflation for years such Zimbabwe. Turkey also set a new policy framework in purpose to lower the inflation and stabilize the currency rates. Under normal circumstances interest rates are expected to raised by the central bank provided that Turkey is an economy [...]

July 3, 2014 Oguz Erkol Macro View 0