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Latest articles in Turkey
Turkey: Slightly negative market opening should be expected
CBRT kept the policy rate 17% yesterday. The statements were very strong, positive and likely to help regain of the confidence in the market. Today a slightly negative opening in the market can be expected in line with global markets.
Turkey central bank opts to wait and see
Today the CBRT’s Monetary Policy Committee (MPC) opted to hold its one-week repo rate at 17%, in line with Bloomberg consensus. After such aggressive action at the last two MPC meetings (see here and here), we think the reaction is appropriate. Turke...


Jobs matter more than votes: ESG pointers from Tunisia and Lebanon
Most would agree that economic stress, and specifically unemployment, breeds populism, and in extreme cases, radicalisation and insecurity. It is the EM echo of the message from Bill Clinton's 1992 election strategist James Carville, "It's the econom...


Turkey starts the day in negative territory
Profit taking mood is in the air as there is not much new inflow from international investors despite the 2 big conferences this week (there were US$248mn net inflows to equities last week). The rally of the market has reached 49% in dollar terms sin...
Turkey: Strong momentum continues
Global equity rally continues as risk on mode is in full swing. Garanti BBVA shared its operating plan guidance for FY21 that targets mid-teens ROAE with a focus on moderate lending and costs remain under control. 4) Steep margin tightening: NIM (swa...
EM Sovereigns: Debt sustainability remains a concern but will only become acute for some
Already in 2020, we have seen a large number of sovereign defaults, notably in Argentina, Belize, Ecuador, Lebanon, Suriname and Zambia. Meanwhile, Bahrain (+9ppt to 137%), Brazil (+2ppt to 104%) and South Africa (+6ppt to 85%) see more modest increa...

