Fed did not change its stance, extended its liquidity operations, emphasized that it would continue easy monetary policy, and revealed that it was not at a stage to evaluate tightening. As expected, there is a timid Fed and the stance on maintaining the continuity of the support provided to the economy is continued as being necessary. ... Devamı
At the 3rd Inflation Report meeting of the year, the CBRT increased its year-end inflation expectations from 7.4% to 8.9%. In the forecast revision of the Central Bank, the main basis is rising oil and food prices, but it also indicates that inflation will remain above the policy rate in the current conditions. Inflation expectations for 2021 have been updated from 5.4% to 6.2%. Food inflation expectation was revised from 9.5% to 10.5% compared to the previous estimate for 2020. The Central Bank has also increased its average oil price forecast from 32.6 USD to 41.6 USD after the price developments since the previous reporting period. ... Devamı
The European Central Bank (ECB) announced that it will continue the Pandemic Emergency Purchasing Program (PEPP) amounting to EUR 1.35 billion, while not changing interest rates as expected at the July meeting. In the bank's policy statement, it was stated that PEPP helped to balance downward pressures in relation to the pandemic in the expected inflation path. ... Devamı
Consumer prices in Turkey showed an increase of 1.13% in June, while the annual inflation was realized as 12.6%. Economists participating in the Bloomberg survey and our expectation were to achieve a monthly inflation rate of 0.6% and 12% annually. In this regard, we see that the data is higher than the generally high expectations. ... Devamı
According to the leading June foreign trade data announced by the Ministry of Commerce within the scope of GTS (general trade system); Compared to the same month of the previous year, exports increased by 15.77% to 13.47 billion USD, while imports decreased by 8.24% in the same period to 16.31 billion USD. In this context, foreign trade deficit decreased by 17.31% in June period and became 2.84 billion USD. ... Devamı
According to the GTS (General trade system) foreign trade data of May announced by TURKSTAT in cooperation with the Ministry of Trade; Turkey's exports in May of 2020, indicates a decrease of 40.9% compared to the same period of the previous year to 9.97 billion USD, while imports decreased by 27.8% in the same period amounted to 13.39 billion USD. ... Devamı
“To provide banks with flexibility in meeting the loan demand specific to this period, the CBRT has decided to temporarily (until the year end) suspend the enforcement of the rule of having adjusted real loan growth rate below 15% for the banks with a real annual loan growth rate above 15% in order to be able to benefit from reserve requirement incentives.” ... Devamı
