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Who will make the decision? The MPC or the General Assembly?
Monetary policy is founded on two pillars. Interest rate decisions are made by the MPC, required reserve ratio is set by the General Assembly. Yesterday the Central Bank…
Sales of the iPhone increase the current account deficit of the US
Then, in this milieu attempting to manufacture a Turkish automobile will not remedy but will even elevate current account deficits. The Turkish Prime Minister recently…
Unemployment rate and monetary policy
In my last commentary I stated that inflation targeting regime aims to keep inflation rate at the targeted level and unemployment are at a rate considered to be…
Have you ever installed a line at the power plant of the district?
Two Turkish firms producing electricity power plants have turned into giants of the sector thanks to the rising demand in the Iraqi market I returned from the Kurdish…
Monetary policy and the status quo
Monetary policy facilitates change in the status quo. The status quo cannot be influenced via interest rate policies. Finally in yesterday I have sent the textbook I…
Stability
If we are proud of the stability Turkey achieved, we have to take a look back. Are we contended or not? Today let me begin with a question that I am obsessed about…
Arbil looks increasingly like Turkey
The bigger the opportunity, the bigger the responsibility. We have a lot to do. I have been in Arbil for a couple of days. Arbil is the capital of the Kurdish Autonomous…
No profits, no sector
The problem in the animal breeding sector can be solved with a policy that guides the firms Signs started to emerge in December. First Banvit and than Koç Holding…
Others' perceptions and growth
Many EU countries struggle with public budget deficits and public debt whereas Turkey does not have significant problems in this respect. In the market economy of the…
Suleiman the Magnificent and the resource problem
We have to initiate a number of reforms in order to alter the status quo which Suleiman the Magnificent would not like. Last week officials of the ruling party raised…
Can the budget deficit be remedied by raising oil prices?
Those wondering when Turkey's credit score will be upgraded must start thinking about how Turkey's public savings can be improved. Public finance was the top priority…
“No wise man enters the industrial sector in this milieu”
I hear the above statement in different forms with increasing frequency these days. Yesterday, the Industrial Strategy and Action Plan was announced. The timing could…