Inflation is in double-digit territory even earlier than my above-consensus forecasts, but the Finance Minister, the best 30-minute economist in Turkey (I will explain what I mean by that in a later post), notes that it is temporary. Joking aside, he is right; inflation will not end the year in double-digit, barring unforeseen surprises, but I am not sure if the CBT's end-year inflation target could be contained, especially since expectations continue to be guided by the headline rather than the core rate. Also, the upward tick in PPI is pleasing and worrying at the same time: While it hints at economic recovery, it also means that supply-side pressures could be building up soon...
And the silver medal in unemployment goes to..... Turkey
Ziraat's unmanned banking branch. Kudos for the effort, but efforts like this do not bode well for Turkey, with Akbank's recent "credit machine", which I was planning to write about, as soon as I have a chance to visit Akmerkez to photograph the only surviving specimen, attests to...
While the title is Akfen's IPO, i find their boond issue far more interesting, especially since corporate bonds are almost as rare as a Fenerbahce cup win in Turkey- this is another topic I was planning to write about.
Last but not the least, I am in the process of moving, so if you happen to be in Istanbul and want to get me a housewarming gift, here's an idea:) I have been warned on making this blog a bit personal before, but where is the fun if it will be unpersonal and dry:)?
And the silver medal in unemployment goes to..... Turkey
Ziraat's unmanned banking branch. Kudos for the effort, but efforts like this do not bode well for Turkey, with Akbank's recent "credit machine", which I was planning to write about, as soon as I have a chance to visit Akmerkez to photograph the only surviving specimen, attests to...
While the title is Akfen's IPO, i find their boond issue far more interesting, especially since corporate bonds are almost as rare as a Fenerbahce cup win in Turkey- this is another topic I was planning to write about.
Last but not the least, I am in the process of moving, so if you happen to be in Istanbul and want to get me a housewarming gift, here's an idea:) I have been warned on making this blog a bit personal before, but where is the fun if it will be unpersonal and dry:)?
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