Tuesday 02nd September 2014,
Turkish Market News

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

One Chart On Turkey’s Growth Dilemma

One Chart On Turkey’s Growth Dilemma

All agents in the country excluding the government walk on eggs while making an investment decision. This is usual when the private sector influence by the added insecurities and domestic and foreign macroeconomic developments. On the other hand in a country where a housing bubble about to burst exists, this is also alarming. Therefore I [...]

June 25, 2014 Oguz Erkol Macro View 0

The Limits of Rationality in Monetary Policy

The Limits of Rationality in Monetary Policy

When your search for “central bank government pressure” on Google, the top three results are related to Turkey just hours before the monetary policy committee meeting to take place. Central bank independence has been one of the most important policies imposed by the International Monetary Fund in less developed countries since mid 90s. And so [...]

June 24, 2014 Oguz Erkol Macro View 0