ECONOMY Haberleri Tümü

Turkish Central Bank: “No Recovery in Economy”

In the March meeting of Money Politics Committee, Turkish Central Bank has told to bankers that recent indicators present no recovery in the first quarter of the year.

In the March meeting of Money Politics Committee, Turkish Central Bank has told to bankers that recent indicators present no recovery in the first quarter of the year.

Turkish economy had grown by 1.7% in the first quarter of 2014. The indicators of the forth quarter will be presented in March. It is expected that economic growth in the forth quarter will be the same. However, Turkish Central Bank has made a presentation, saying that there is no recovery in Turkish economy. It was stated: “Recent indicators present no financial development.” 

To sum up the presentation, positive developments in foreign trade and moderate progress of consumer credits support the growth. Yet, it was stated: “As the foreign demand continue to progress, home demand supports this progress moderately. Money and finance politics also support the inflation indicators. On the other hand, ambiguities in the world and increases in food prices require a careful approach. The committee has decided to keep the interest rates stable on this point.” 
“As the export orders continue to progress, poor weather conditions affect the orders in home market negatively. The unemployment rate has increased dramatically in 2014. Geopolitics developments, price effect and home/foreign demand affect the foreign market indicators. In the risk premium indicators, show a similar fluctuation.” 

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