After the mining accident in Soma, the elevator accident that resulted in the loss of 10 workers at an Istanbul construction site was the final straw.
Markets were relieved that there was no change with regards to the economic perspective and the administrating staff
As the new statics arrive, it is seen that the deterioration of the Turkish economy continues in the 3rd quarter of 2014.
In the global markets, an opinion has started to form that geopolitical risks are decreasing. While that opinion has been shaped, an optimistic atmosphere has grown and the markets have recovered since last week.
It is known that we were entering critical days both nationwide and globally. While this critical process is approaching, we see that data regarding Turkish economy is also deteriorating and bad signals are increasing.
The presidential elections were finalized in the first round, but this did not provide the expected political and economic relief. Right after the elections
The inflation figures made public at the beginning of the week will continue to be debated, despite its consequences.
While political and geostrategic risks increase, the deterioration in the economic data raises the fragility of Turkey’s economy increasingly each day
This week, on one hand, markets will be monitoring the statements of authorities who affect global economy, and on the other hand, domestically, they will closely follow the Central Bank’s interest rate decision.
