Inan Demir News
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Turkey’s economy grew 1.4 percent in the fourth quarter last year, the slowest pace since a recession in 2009, as central bank efforts to cut the current-account deficit depressed domestic demand.
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Turkish benchmark bond yields dropped the most in five weeks after Standard & Poor’s raised the country’s foreign currency rating to one level below investment grade.
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Economists are split on whether Turkish monetary policy is looser or tighter after central bank Governor Erdem Basci cut one of his three interest rates while saying he’d use an experimental tool to manage liquidity.
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Abdullah Ocalan, the imprisoned leader of the Kurdistan Workers’ Party, is moving Turkish markets from his jail cell with calls for rebels to cease their armed conflict.
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Abdullah Ocalan, the jailed leader of the militant Kurdish group that has been fighting Turkey’s army for almost 30 years, called for an end to the armed struggle and a political solution to the conflict.
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Prime Minister Recep Tayyip Erdogan , who won a third term in office pledging to rewrite Turkey’s constitution and continue its economic growth, may have to seek alliances with the main Kurdish party in order to move forward with a new national charter, Inan Demir , chief economist at Finansbank AS, said today in a telephone interview.
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Turkey has lowered its growth forecast and eased budget targets for this year and next as a drop in industrial production added to evidence that the economy is slowing.
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Turkish central bank Governor Erdem Basci’s unexpectedly hawkish turn yesterday sent government note yields up by the most in almost two weeks even as he cut the benchmark interest rate for the first time in 16 months.
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Turkish Prime Minister Recep Tayyip Erdogan’s appointment of a new interior minister as part of a Cabinet reshuffle may boost the government’s efforts to end a decades-long war with Kurdish militants, according to analysts.
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Turkey’s central bank announced a new policy tool today to limit risks of excessive debt in the banking system by placing higher reserve requirements on banks that fail to meet specified leverage ratios.
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