Source: Türkiye İş Bankası

Turkey’s economic outlook on weekly basis based on main indicators, monetary policy and anticipatory meetings.

Monetary policy meetings of the Fed, ECB and CBRT were high on the agenda last week. Fed and ECB decided at the last meetings of the year to maintain their current policy stance. Optimistic expectations for the trade agreement supported global markets in general and election results in the UK reduced Brexit uncertainty leading to a rapid appreciation of the pound. CBRT cut the policy rate from 14% to 12%. While CBRT’s monetary policy remains accommodative, economic activity continued to provide mixed signals. Industrial production increased below expectations in October, while retail sales rose strongly in the same period. Weak employment outlook persisted also in September.

For full report, please see below and attached file: