Turkey has been an interesting experience for economists in many aspects. A central bank keeping the real interest rates extremely low in a period when the country suffers from savings gap and high inflation may be among them, despite a good economic performance. Pretending that…
Headline inflation in October came out at 1.44% m/m pointing to an annual inflation rate of 7.16%, fell behind the expectations of 1.58% but slightly higher than our estimate of 1.40%. Meanwhile downward trend in core indicators continued, as I-index y/y change declined 7.04% in…
At a time when some argue that Turkey is on a path to being more state-sponsored economy owing to the Treasury guaranteeing large scale projects, the performance comparison of public and private banks gains importance. Thus, we aim to compare both groups in terms of…
In a previous post, I noted that the shape of things to come in Turkey is getting similar to that of economic crisis occurred in South Korea in late 90s. I accept that in term of economic dynamics, South Korea differs much from Turkey as…
Yesterday, we had the data for non-farm payrolls in the US and the number was extremely disappointing as investors expect Fed to postpone the tapering its asset purchasing program. Expectations for longer liquidity in the US, support emerging markets, as Turkish debt offers one of…