Turkey’s Resilience to a Fed Rate Hike
The effects on emerging markets of unconventional monetary policies implemented by some advanced economies have been a focus of debate. The policy of so-called quantitative easing that the central banks in advanced economies embarked on has increased capital flows to emerging markets. However, as these policies are scheduled to end in the near...
Are Rates Still Low Despite The Massive Hike?
The whole world was shocked when Turkish Central Bank raised its policy rate to 10% from a lending rate of 7.75%. Market reacted quickly to this massive hike. We saw lira abruptly gaining value and flirting with 2.17 against dollar, EEM (iShares MSCI Emerging Markets ETF) rallied an so on. But the question...