The volatility in the global financial system continues. While on one hand, the collapse of talks with Greece creates anxiety in the markets, the debates on the other hand over when and to what degree the U.S. Federal Reserve (Fed) will start hike rates are the main reasons behind the volatility.
Right before the elections, it has been observed that the deterioration in economic data is continuing
The bottleneck in Turkey’s economy has been spoken about for a couple of years now. Under the headline “middle-income trap,” many have said the country needs a new growth story and a new economic vision to draw foreign capital.
While all other indicators were deteriorating, it was only the current account deficit that maintained its optimistic expectation. However, with the recently released March figures, current account expectations have also started to deteriorate
Inflation figures disclosed at the beginning of the week have once more shown that serious weaknesses are being experienced in fighting inflation
The Turkish Union of Chambers and Commodity Exchanges (TOBB) held its general assembly last Saturday
The fluctuations in the foreign exchange (forex) rates are continuing but Turkey's Central Bank is not expected to increase rates to stop this.
The Central Bank still maintains it is optimistic of the inflation rate, even as it continues to rise. In the inflation evaluation statement the other day, it was highlighted that core inflation indicators were positive.
The figures made public yesterday show Turkey’s growth story has come to an end. The fact this story came to an end in a period when emerging markets like us are expected to face difficulties due to global developments means the problems expected in the economy will increase.
