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Macro Analysis / Turkey

Turkey: Another rate hike on the cards

Following a surprise policy rate change last month, Turkey's central bank has further raised its effective cost of funding rate to above 12% in a continuation of its previous tightening measures to control inflation and support the currency. On the c...
ING Think
ING Think 19 October 2020
Turkey: Another rate hike on the cards
Turkey: Another rate hike on the cards
Macro Analysis / Global

IMF World Economic Outlook: Looking beyond the pandemic for emerging markets

In its latest World Economic Outlook, the IMF predicts the global economy to experience a 4.4% contraction in 2020 (+0.8ppt vs its June estimates) and a partial rebound to 5.2% growth in 2021 (-0.2ppt). Asia (-1.7% in 2020; +8.0% in 2021) faces a mor...
ING Think
ING Think 15 October 2020
IMF World Economic Outlook: Looking beyond the pandemic for emerging markets
IMF World Economic Outlook: Looking beyond the pandemic for emerging markets
Macro Analysis / Turkey

Turkish industrial production continues improvement

Seasonal and calendar-adjusted Turkish industrial production index has swiftly recovered as lockdowns have eased maintaining growth in August and reaching an all-time high level at 3.4% month-on-month. In year-on-year terms, calendar-adjusted industr...
ING Think
ING Think 13 October 2020
Turkish industrial production continues improvement
Turkish industrial production continues improvement
Macro Analysis / Turkey

Turkish central bank continues to tighten by backdoor

The CBRT has intensified its efforts to rein in excess liquidity and put a floor under a plummeting lira, raising the lira rate on dollar swaps by 150bps to 11.75% on Friday and raising the remuneration rate on required lira reserves by 200bps on Mon...
Tellimer Research Patrick Curran
Patrick Curran @ Tellimer Research 13 October 2020
Turkish central bank continues to tighten by backdoor
Turkish central bank continues to tighten by backdoor
Macro Analysis / Turkey

Turkey: Unemployment rate on a downtrend

Total employment in seasonally-adjusted terms (which changed direction in May with the easing of lockdown measues and reopening of the economy) has continued to recover, rising by 540K thanks to the fading impact of the pandemic. On the flip side, de...
ING Think
ING Think 12 October 2020
Turkey: Unemployment rate on a downtrend
Turkey: Unemployment rate on a downtrend
Macro Analysis / Turkey

Turkish current account deficit widens rapidly in August

Turkey's current account deficit in August stood at US$4.6 bn, aligned with the consensus, while the 12-month rolling figure reached US$23.2bn, up from US$15.3 bn a month ago, gaining pace despite recent normalisation measures introduced by policymak...
ING Think
ING Think 12 October 2020
Turkish current account deficit widens rapidly in August
Turkish current account deficit widens rapidly in August