The surprise fall suggests is it less likely the Turkish central bank will follow up last month’s interest rate hike with another this month.
With this unexpected move the MHP has become the key player in Turkish politics.
Extremely high levels of poverty by European standards have pushed Turkey’s Despair Index up over the 40% mark – a level usually associated with popular protest and coloured revolutions.
Despite the external blows of Brexit and then ‘Trumpquake’, there was a general improvement in Central and Eastern Europe’s transaction climate in 2016.
Parliament votes for suspension by a strong majority, though resolution is not legally binding.
Defying political pressure to reduce borrowing costs, Turkey’s central bank delivered its first rate hike in nearly three years on November 24 in a bid to support the nation’s battered currency.
bne’s Despair Index values are contained in most developed countries of the world and many of the former Eastern Bloc countries have scores on a par with their Western peers. But the share of poverty remains too high in many countries.
Turkey’s unemployment rate hit a 19-month high in August, reflecting the effects of a slowing economy and troubles in the tourism industry.
Ankara is cautiously optimistic that the election of Donald Trump may mark the start of a new era.
Unpredictability is never an asset in foreign or defence policy, so the election of the mercurial Donald Trump to the US presidency is already causing conniptions in European capitals, especially those of Central Europe.
Turkey’s calendar-adjusted industrial production declined 3.1% y/y in September, defying market expectations and fueling concerns about Q4 growth.
Turkey is at the bottom of the World Justice Project Rule of Law Index 2016 but only just above Russia, Kyrgyzstan and Ukraine.
With tighter regulatory rules looming, life is not going to get any easier for the region’s banks.
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