Down below are the economic indicators of Turkey, reported as of October 2012. This data is compiled from various sources such as reputable banks - and originally from figures announced by TURKSTAT (Turkish Statistical Institute) and Central Bank. Turkish economy in spite of the stagnancy in the major world markets has managed to avoid a likely crisis (as with Greece and Spain) so far. The government (altho ...

Turkey's economy grew slower than expected in the second quarter and a deeper slowdown is expected during the rest of the year as domestic demand weakens, raising pressure on the central bank to cut borrowing costs more aggressively. Gross domestic product (GDP) grew 2.90 percent year-on-year, below a Reuters poll forecast of 3.25 percent, data from the Turkish Statistics Institute showed. First quarter gro ...

We believe the data below would be useful to provide a brief opinion for those who would like to have a quick look at what has been happening in the Turkish economy, recently. Further details can be obtained from related sources. ECONOMIC OVERVIEW Despite the slowdown in the global economic activity the rise in Turkey’s exports and continuation of re-balancing in the demand composition support the expectati ...

Central Bank Gov Erdem Başçı says that consumer inflation may take a downward path after it rose in June. The bank forecasts 6.2 percent year-end inflation. AA photoThe Turkish Central Bank has revised down its year-end inflation forecast, citing the falling downward trend in energy and food prices. “We have dropped our year-end inflation forecast buy 0.3 percent to 6.2 percent, based on the downward assump ...

Turkish official inflation rises to 11.1% in April Turkey's annual inflation rose to 11.14 percent in April after holding steady at 10.43 percent for two months, the national statistics office said Thursday. ANKARA- Consumer price inflation recorded a monthly growth of 1.52 percent in April, pushing a 12-month inflation average to 8.59 percent, the Turkish Statistics Institute said on its website. A breakdo ...

Turkey's year-end CPI expectation down to 7.20 percent The expectation for Turkey's year-end Consumer Prices Index (CPI) dropped to 7.20 percent, according to the first term survey of expectations in March 2012. It was 7.26 percent in Central Bank's survey on second term in February. Current account deficit expectation, which had been 62.7 billion USD in second term survey of February, increased to 63.1 bil ...

The Turkish Central Bank yesterday updated its yearend inflation forecast for 2012 to approximately 6.5 percent from a previous prediction of 5.2 percent. “We predict that the inflation, with a 70 percent probability, will be between 5.1 and 7.9 percent, with a median of 6.5 percent at the end of 2012, and for the end of 2013 the inflation will be between 3.3 and 6.9 percent with a median of 5.1 percent,” C ...

$3 billion has entered into Turkey in 25 days, Deputy Prime Minister Ali Babacan has said yesterday, speaking in the town of Davos where capitalism is questioned this year. "We won't allow economy to fall into recession," Babacan said in a televised interview on the sidelines of the World Economic Forum, adding that Turkey sees no need to change its growth forecasts. "The net foreign currency totaling $5 bi ...

It is clearly understood from the messages delivered by Central Bank of Turkey that it will be essential to maintain the flexibility  in monetary policies as we are very likely due to face high level of uncertainties about the course of global economy in 2012, as well. Another important message is that CBRT is determined to enhance its communication strategy in order to increase the predictability by the ma ...

Central Bank Gov Başçı declares strong commitment to the lira, claiming the currency will be among those rising most this year. Turkey can attract foreign financing as investors are in search for safe havens, he says The Turkish Lira will be one of the currencies appreciating most in the world this year, according to Central Bank Gov. Erdem Başçı. “Those who invest in the lira will always gain in 2012. The ...

Currency wars are spreading throughout the region as Turkey’s Central Bank intervened for a fourthday in the currency markets yesterday amid similar moves by Iran and news that the Hungarian Forintplummeted to a new low. Turkey’s Central Bank continued its direct intervention on the currency market for a fourth trading day in a row yesterday, in addition to a $100 million sale in a daily auction. According ...

Turkey’s Central Bank intervened again in currency markets in the year’s first trading day, directly selling as much as $650 million to limit the lira’s depreciation. However, the greenback was largely unfazed The Turkish Central Bank, which employs a much-debated strategy of low interest rates, has surprised the markets on the first trading day of 2012, intervening massively in the currency markets. The in ...

Mr. Erdem BAŞÇI has made a presentation about open market operations the bank is to conduct in 2012. In said presentation the governor has also outlined many important principles as to the planned operation of the bank in 2012. Accordingly, in addition to the daily one-week repo auctions, the Central Bank of the Republic of Turkey (CBRT) will start holding one-month (4 weeks) repo auctions every Friday. The ...

Turkish Central Bank Gov Erdem Başçı pledges a stronger year in terms of stability and predictability, but cannot avoid speaking of increasing global concerns and volatilities. Başçı also says he is against relocating the headquarters of the Central Bank to Istanbul Big uncertainties will mark the global economy in the new year, according to Central Bank Gov. Erdem Başçı, who said Turkey’s monetary policy w ...

A more flexible monetary policy is very likely to continue in 2012, but the Turkish Central Bank will be more inclined to focus on boosting liquidity, especially with measures on the Lira side, says a high level banking analyst. Many economists believe 2012 will be divided into two periods. In the first half of they year, they expect high inflation. In the second half of 2012, however, they expect the Centr ...

The Turkish Central Bank could withdraw its nearly 23 billion euros of reserves from France after the EU member’s recent move to fine any denial of an Armenian ‘genocide’ in 1915, economists tell the Daily News. However, such a sharp move could risk Turkey’s EU bid, they add. Turkey’s Central Bank might shift nearly 30 billion Turkish Liras of investment in French bonds to other European powerhouses as part ...

Turkey is considered to have one of the best developing economies in the world recently. Istanbul on the other hand has grown to be one of the giant metropoles in Europe – and the world. A great majority of industrial and economic activities that take place in Turkey are in Istanbul and thus this megapole is called the economic and business capital of Turkey. The Turkish government which has shown a very br ...

The Central Bank of Turkey on Tuesday announced a 1.73 percent rise in the consumer price index (CPI) for November and predicted that the figures on the index will continue to increase in December. Turkey's annualized inflation rate of consumer prices increased from 7.66 percent in August to 9.48 percent in November, and economists say double-digit inflation is now almost certain by year-end. According to t ...

Year-end current account deficit expectation up to 75.1 bln USD The year-end current account deficit projection was up to 75.1 billion USD, according to expectation survey of the Central Bank of Turkey. The bank made public the results of its first expectation survey in December 2011 and said the year-end current account deficit forecast rose to 75.1 billion USD. It was around 74.5 billion USD in the previo ...

Turkey’s Central Bank, which recently moved to a more flexible interest rate policy, says it will pre-announce a minimum amount of its weekly repo auctions Turkey’s Central Bank will announce a floor for its weekly lira funding every other Friday, in an attempt to give clearer signals for the markets and improve liquidity management of banks. The bank will pre-announce a minimum amount of its weekly repo au ...

The Turkish lira was firmer against the dollar on Friday, supported by demand for the currency ahead of a public holiday next week and as risk appetite was nudged up by hopes Greece will abandon a planned referendum on a bailout deal.Bond yields declined in low volumes and shares were higher. The lira strengthened to below 1.75 against the dollar in early trade but lost some ground to 1.7555 at 0944 GMT, co ...

According to the Turkish Statistics Institute, the monthly rise in the consumer price index (CPI) and the producer price index (PPI) was 3.27 and 1.6 percent, respectively, in October.The Central Bank of Turkey said on Friday the country's inflation rate would climb higher through the end of the year, an inescapable result in the face of rapid growth in domestic demand. Fast growing domestic demand so far t ...

The gross foreign exchange reserves of the Turkish Central Bank had dropped to $82.3 billion as of Oct. 21, the bank announced yesterday. The reserves were $85.8 billion on Oct. 14. The bank said total reserves decreased to $88.3 billion from $91.9 billion in June. Gold constituted $6.064 billion of the total reserves. The country repaid 564.21 million in foreign debt between Oct. 1 and 26, the bank added.  ...