Posts Tagged Elections
Core Inflation Heats Up

Core Inflation Heats Up

As expected yearly inflation fell in October as temporarily weaker food and energy prices more than offset the impact of the foreign exchange pass through (1.5% m/m, 7.6% y/y). The figures seemed to be slightly above the estimates. The upward surprise was on the back of the clothing prices that saw the highest increase in the basket.

The only positive outcome of the October’s inflation report was the producer prices that fell 0.2%. Given the analysts’ predictions...

Central Bank Independence Attacked Again

Central Bank Independence Attacked Again

The 2001 crisis and the following the post-crisis period were important milestones for economic policy-making in Turkey as well as for the monetary policy. In 2002 Turkish Central Bank adopted a modern monetary policy with primary objective of achieving price stability after the bank had been vested with instrument independence in the previous year. Thanks to these efforts, Turkey has been able to keep the annual inflation rates in the range of 4%-12% after experiencing a hyperinflation period in 90s with...

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