Fatih Özatay, PhD
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On the budget
We could have tightened the budget further to save means for rainy days and to reduce the current account deficit. We still can. The budget balance is affected severely…
From 'how to raise credit volume' to 'how to reduce credit volume'
Two and a half years ago I was seeking to identify how the volume of credits bank extend could be increased. Currently I am thinking through how the latest decisions by…
Finally
If the CBT had done the statement on Tuesday right after the debates had emerged, it would strengthen its prestige. I had omitted the last two paragraphs of my…
Breaking the routine, dilemma and failing to justify
If the BRSA steps in and introduces regulations that will discourage extending credits using short term funds, the CBT's chances to succeed with the new policy framework…
What do the credit data tell?
Credit supply can be slowed down should the required reserve ratio is increased "sufficiently". The fact that such slowdown is not yet observed as shown above does not…
How can the Central Bank overcome the “dilemma”?
While withdrawal of 21.6 billion liras was targeted, the CBT injected 14.7 billion liras to the market. The Central Bank of Turkey (CBT) increased the required reserve…
On the Central Bank’s dilemma
The CBT on the one hand reduced the amount of funds banks can extend in form of credits and on the other hand provided one-week maturity funds to them in order to…
Inflation rate: heads to where?
Together with the rise in crude oil and food prices, the possibility of an upwards movement in inflation rate becomes more visible. Consumer price indices have been…
Destabilizing interest expenditures
Turkey has a higher interest expenditure/GDP ratio than all European countries but Greece. I am now obsessed with the 'stability' issue; I have to write stably on…
An odd form of stability
Favorable economic developments in the recent period disguise an unpleasant form of stability. Gaddafi is in power for more than 40 years; and he is about to be…
Taking advantage of the 2001 crisis (2)
'Tenth anniversary of the 2001 crisis' celebrations must not be exaggerated or used to disrepute the ruling government back then. It is evidently good the recall the…
Taking advantage of the 2001 crisis
The biggest mistake made was the failure to advance upon the banking sector the major weaknesses of which became to be understood much later. Which crisis was deeper?…