Fatih Özatay, PhD
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A different perspective might be useful
After all, price stability (or anti-inflationary policies) is among the chief aims of the CBT. The last two inflation reports by the Central Bank of Turkey (CBT) have…
Implications were not on the game but on the audience
During the months ahead, we will witness the reflection of the inflation phenomenon onto the game. The CBT will keep the funding cost at high levels. No, the title does…
The freedom of taking sides
Tight fiscal policy can as well be expansionary under certain circumstances. This was the case with Turkey after the 2001 crisis. In some other cases, however, the exact…
Higher interest rate, valuable lira
Funding cost will be determined by the changes about the exchange rate, and thus the international risk appetite. The Central Bank of Turkey (CBT) announced the second…
Fighting against inflation back on the agenda?
The CBT started to tighten the monetary policy and prioritize anti-inflationary targets, which must be considered as steps in the right direction. By the time you are…
Distributed profits
The level of distributed profits, which stood below $500 million before 2003 averages at $3 billion since 2008. Foreign direct investments (FDI) are the most desired…
Incentives, kidney bean and summer snowflake
When designing the new incentive system, it is crucial to devise a framework that improves productivity and technological advancement and promotes innovativeness. The…
The ‘real policy rate’ will exceed 7 percent more frequently
As it is declared that additional monetary tightening might be implemented more frequently, ‘the real policy rate’ might exceed 7 percent. The Monetary Policy Committee…
Who is to blame for the confusion?
It doesn’t matter if the CBT increases the one-week repo rate, which it calls the “policy rate” but actually is not. Central Bank’s Monetary Policy Committee (CBT - MPC)…
Is the system more transparent now?
The rate regarded by markets currently as the policy rate is the funding cost, not the one that the CBT calls as the policy rate. Before 29 November 2012, the Central…
Are problems about FX finance easing?
If Europe gets back into a chaos, we will initially face difficulty in meeting the FX requirement even in the case that the current account deficit eases. Critical…
Output growth slows down as desired
Indicators suggest that industrial output growth has weakened and that this trend will most probably continue in March and April. Industrial output growth for February…