Just a month ago, Turkish bond yields signaled that the economy was heading for a recession. Now, the nation is growing enough to keep the two-year expansion alive after the central bank slashed interest rates, credit market measures show.
Turkey plans to clarify what is considered criminal under legislation that provides for imprisonment for certain financial commentary, HaberTurk reported, citing Capital Markets’ Board Chairman Vahdettin Ertas.
Societe Generale SA ordered employees to cease commentary on Turkey pending a review of new legislation that threatens up to five years imprisonment for certain types of commentary on financial markets.
Banks from JPMorgan Chase & Co. to Morgan Stanley and Commerzbank AG are weighing the outlook for Turkey’s two-year note yield after it fell below 5 percent for the first time amid fading inflation concern.
Turkey paid its last loan installment to the International Monetary Fund after a 52-year relationship, a triumph for Prime Minister Recep Tayyip Erdogan as government debt falls even as private borrowing surges.
Tatha Ghose , an economist at Commerzbank AG in London, comments on Hungarian plans revealed today to reduce public debt to 50 percent of gross domestic product by 2018 and for deficit cuts of 900 billion forint ($4.6 billion) in 2013 and 2014.