Fatih Özatay, PhD
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Will the USD hit under 1.92 TL by the end of the year?
Chairing a central bank is a craft, to be executed with wisdom, not algorithms. “Don’t be surprised if the US dollar hits under 1.92 TL by the end of 2013” said Central…
Overpraising (once again)
The problem is that, Turkey already has been close to the seventeenth place in the world’s ranking of largest economies. Stephen Grosz is a psychoanalyst. His first book…
Is ideological foreign policy a curse to the economy?
If you were a foreign fund manager, would you be willing to invest your funds into a country which is in bad terms with almost all of its neighbors and is “strongly…
Would it be better if the CB did not increase the rate?
Raising interest rate might prevent an excessive increase in the exchange rate. But at the end of the day, you cannot escape your fate. The Central Bank Monetary Policy…
Domestic savings from the short-term and long-term perspective
In conclusion, Turkey cannot keep up with rich countries just by raising savings and investments. Last Thursday I compared domestic savings rates of Turkey, upper-medium…
Some of this, some of that
We sure do not desire a drastic increase in these rates within a short time frame. But given the low domestic savings rate, all you can do is to wait for your destiny. I…
Savings are astonishingly low
Turkey’s savings rate is low in comparison to not only the BRICs but also developing and upper-middle income countries. I previously compared the savings rates of…
The second half 2013 at a glance
Industrial output growth in the first quarter was radically below the impressive rates in 2011. Yet, there is the bright side of the story. Industrial output figures for…
Why gold imports are increasing?
The current environment is evidently marked by uncertainties, which is the nemesis of the confidence in the economy. Although a week has passed after its release, I…
Turkey’s evaporating competitive advantage
Competitive advantage based on exchange rate proves temporary in the end turning into inflation and fading away shortly. Consumer price inflation (CPI) figures for July…
Non-revolving funds, part-time, and full night
The full-time law forced professors of medicine to choose between private practice and hospitals. Think of an industrialist who throws away half of the functioning and…
First praises, then criticisms
Citing temporary incidents of “success” as evidence to the anti-inflationary efforts is just not nice. Do you check the reports and studies the Central Bank (CBT)…