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Wednesday November 30 2016
Turkish Trade Deficit Widens in October  
Turkey's trade deficit increased to $4.16 billion in October of 2016, compared to a $3.67 billion gap a year earlier, as exports decreased 3 percent to $12.841 billion and imports went up 0.5 percent.
Thursday November 24 2016
Turkey Hikes Rates For 1st Time Since 2014  
The Central Bank of Turkey raised its benchmark one-week repo rate by a higher-than-expected 50bps to 8 percent on November 24th and its overnight lending rate by 25 bps to 8.5 percent, while it held its borrowing rate at 7.25 percent. It was the first policy tightening since January 2014, after the lira fell to a record low amid a slowdown in economic activity. The lira has already lost around 14 percent of its value against the dollar this year on stronger dollar and concerns over the aftermath of July's failed coup. Inflation was last recorded at 7.2 percent in October, well above central bank's 5 percent target.
Tuesday November 15 2016
Turkish Jobless Rate Rises to 19 Month-High in August  
The unemployment rate in Turkey increased to 11.3 percent in August of 2016 from 10.10 percent a year earlier. It was the highest figure since January 2015. Non-farm unemployment also rose to 13.7 percent from 12.4 percent and the jobless rate among those aged 15 to 24 went up by 1.6 percentage point to 19.9 percent.
Thursday November 03 2016
Turkey Inflation Rate at 5-Month Low of 7.16% in October  
Consumer prices in Turkey increased 7.16 percent year-on-year in October of 2016, following 7.28 percent growth in the previous month and below market expectations of 7.4 percent growth. It was the lowest inflation rate since May, as cost of housing and utilities at a slower pace. On a monthly basis, consumer prices jumped 1.44 percent, driven by 10.4 percent growth in clothing and footwear prices.
Monday October 31 2016
Turkey Trade Gap Widens 14% YoY in September  
Turkey's trade deficit increased to $4.36 billion in September of 2016, compared to a $3.8 billion gap a year earlier. Exports fell 5.6 percent, dragged down by manufacturing and agricultural sales. Imports declined at a slower 0.7 percent, led by mining and quarrying and fisheries purchases.
Thursday October 20 2016
Turkey Holds Repo Rate at 7.5%, Lending Rate at 8.25%  
The Central Bank of Turkey held its benchmark one-week repo rate at 7.5 percent on October 20th, as widely expected, and its overnight lending rate was unexpectedly left unchanged at 8.25 percent following seven consecutive cuts. Policymakers agreed that a cautious monetary policy stance had to be maintained as a weaker lira and other cost factors restrained the improvement in inflation outlook. The bank also said that the direction and the timing of the next step in the monetary policy would be data dependent. Inflation was last recorded at 7.3 percent in September, well above central bank's 5 percent target.
Monday October 17 2016
Turkey Jobless Rate Surges to 10.7% in July  
The unemployment rate in Turkey increased to 10.7 percent in July of 2016 from 9.8 percent a year earlier. Non-farm unemployment also rose to 13 percent from 12 percent and the jobless rate among those aged 15 to 24 went up by 1.5 percent to 19.8 percent.
Monday October 03 2016
Turkey Inflation Rate at 4-Month Low of 7.3% in September  
Consumer prices in Turkey rose 7.3 percent year-on-year in September of 2016, following 8.1 percent increase in August and below market expectations of 7.8 percent. It was the lowest inflation rate since May, as cost of food rose at a slower pace. On a monthly basis, consumer prices went up 0.18 percent.
Friday September 30 2016
Turkey Trade Deficit Narrows 5.3% YoY in August  
Turkey recorded a USD 4.69 billion trade deficit in August of 2016, 5.3 percent lower than a USD 4.95 billion gap a year earlier. Exports jumped 7.7 percent year-on-year, following an 11.6 percent fall in July, boosted by manufacturing sales. Imports increased at a slower 3.7 percent, after slumping 19.6 percent in the previous month.
Thursday September 22 2016
Turkey Cuts Lending Rate for 7th Straight Month to 8.25%  
The Central Bank of the Republic of Turkey held its benchmark one-week repo rate at 7.5 percent on September 22nd, as widely expected, but lowered its overnight lending rate for a seventh time in a row to 8.25 percent despite high inflation and worries about possible credit rating downgrades. Policymakers said a cautious monetary policy stance has to be maintained amid recent tax adjustment in cost of fuel while annual inflation is expected to decline in the short-term due to falling food prices. Inflation was last recorded at 8.1 percent in August, well above central bank's 5 percent target.
Monday September 19 2016
Turkey Unemployment Rate Rises to 10.2% in June  
The unemployment rate in Turkey increased to 10.2 percent in June of 2016 from 9.6 percent a year earlier. Non-farm unemployment also rose to 12.2 percent from 11.7 percent and the jobless rate among those aged 15 to 24 went up by 1.7 percent to 19.4 percent.
Friday September 09 2016
Turkey GDP Expands 0.3% QoQ in Q2  
The Turkish economy advanced 0.3 percent on quarter in the three months to June of 2016, slowing from a downwardly revised 0.7 percent expansion in the previous period. It is the weakest growth rate in seven quarters, supported by government spending and a rebound in investment while exports and household spending shrank.
Friday September 09 2016
Turkey Annual GDP Growth Slows to 3.1% in Q2  
The Turkish economy advanced 3.1 percent year-on-year in the second quarter of 2016, slowing from a downwardly revised 4.7 percent expansion in the previous period and below market expectations of a 3.4 percent gain. It is the lowest growth rate in five quarters as household spending and exports slowed and investment shrank.
Monday September 05 2016
Turkey Inflation Rate Eases to 8% in August  
Consumer prices in Turkey rose 8.05 percent year-on-year in August of 2016, slowing from an 8.79 percent increase in July as food inflation eased. On a monthly basis, consumer prices went down 0.29 percent, the biggest drop since June last year.
Wednesday August 31 2016
Turkey Trade Gap Narrows 32.5% YoY in July  
Turkey's trade deficit declined by 32.5 percent to $4.79 billion in July of 2016, compared to a $7.1 billion gap a year earlier. Exports went down 11.5 percent to $9.8 billion, due to lower sales of manufacturing products. Imports shrank 19.7 percent to $14.64 billion, mainly driven by decreases in purchases of intermediate, capital and consumption goods.
Tuesday August 23 2016
Turkey Holds Repo Rate at 7.5%, Cuts Lending Rate to 8.5%  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on August 23rd, as widely expected, but lowered its overnight lending rate for a sixth time in a row to 8.5 percent despite high inflation and worries about possible credit rating downgrades. Policymakers said the tight monetary policy stance will be maintained given inflation expectations while considered that measured steps towards simplification would contribute to the effectiveness of policy. Inflation went up in July to hit a 6-month high of 8.8 percent, remaining well above central bank's 5 percent target.
Monday August 15 2016
Turkish Jobless Rate Rises to 9.4% in May 2016  
Turkish unemployment rate edged up to 9.4 percent in May 2016 from 9.3 percent a year earlier, as the number of unemployed rose by 106 thousand to 2.895 million. Non-farm unemployment went down to 11.3 percent from 11.4 percent while youth unemployment rate rose to 17.4 percent from 17 percent.
Wednesday August 03 2016
Turkey Inflation Rate at 6-Month High of 8.79% in July  
Turkey's consumer prices went up by 8.79 percent year-on-year in July 2016 following a 7.54 percent rise in a month earlier, beating market expectation of 8.2 percent growth. It was the highest figure since January, mostly due to a sharper rise in food cost.
Friday July 29 2016
Turkey Trade Gap Rises 5% YoY in June  
Turkey's trade deficit rose by 5 percent to $6.559 billion in June of 2016, compared to a $6.249 billion gap a year earlier. Exports went up 8.1 percent to $12.9 billion, due to higher sales of manufacturing products (+94.3 percent). Meanwhile, imports rose 7 percent, mainly boosted by increase in purchases of intermediate goods (+65.7 percent), capital goods (+20.8 percent).
Tuesday July 19 2016
Turkey Holds Key Rate, Cuts Lending Rate for 5th Time  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on July 19th, as widely expected. Policymakers said the current monetary policy stance, the cautious macroprudential policies and the effective use of the policy instruments increased the resilience of the economy against shocks, after a failed attempt at a military coup in the country led to sharp fluctuations in financial markets. Meanwhile, the bank lowered its overnight lending rate for a fifth time in a row to 8.75 percent, signaling further willingness to ease policy, and kept the overnight borrowing rate at 7.25 percent.
Friday July 15 2016
Turkish Jobless Rate Falls to 9.3% in April  
The unemployment rate in Turkey declined to 9.3 percent in April of 2016 from 9.6 percent a year earlier and better than market consensus of 9.9 percent. Non-farm unemployment went down to 11.1 percent from 11.6 percent and youth unemployment rate fell to 16 percent from 17 percent.
Monday July 04 2016
Turkish Inflation Rate Rises to 4-Month High  
Turkey's consumer prices increased by 7.54 percent year-on-year in June 2016 compared with a 6.58 percent growth in the previous month. It was the highest reading since February, as cost of food and transportation advanced at a faster pace.
Thursday June 30 2016
Turkey Trade Gap Narrows in May  
Turkey's trade deficit dropped 25.5 percent to $5.05 billion in May of 2016, compared to a $6.8 billion gap a year earlier. Exports increased 9.6 percent to $12.4 billion, due to higher sales of vehicles (+41.2 percent) and precious stones and metals (+176.9 percent). In contrast, imports declined 3.8 percent to $17.2 billion , mainly driven by lower purchases of mineral fuels, minerals oils (-37.1 percent) and iron and steel (-36.3 percent). In the first five months of 2016, the trade deficit shrank 21 percent to $21.4 billion from $27 billion in the same period of 2015, as exports declined 4.4 percent while imports fell at a faster 9.5 percent.
Tuesday June 21 2016
Turkey Holds Key Rate at 7.5%, Cuts Lending Rate to 9%  
Turkish central bank left its benchmark one-week repo rate unchanged at 7.5 percent on June 21st, saying it will maintain the tight monetary policy stance considering the developments in services inflation and unit labor costs. The bank, however, lowered its overnight lending rate for a fourth time in a row to 9 percent, signaling further willingness to ease policy, and kept the overnight borrowing rate at 7.25 percent. Inflation eased recently, but it still remains above the central bank's 5 percent target.
Wednesday June 15 2016
Turkey Unemployment Rate Down for 2nd Month  
Turkish jobless rate declined to 10.1 percent in March of 2016 from 10.6 percent a year earlier. Non-farm unemployment fell to 11.9 percent from 12.6 percent and youth unemployment rate decreased to 17 percent from 18.6 percent.
Friday June 10 2016
Turkey Q1 GDP Growth Slows to 0.8%  
Turkey's gross domestic product expanded 0.8 percent on the quarter in the first three months of 2016, slowing from an upwardly revised 1.2 percent expansion in the previous period and boosted by household consumption and government spending; while a contraction in fixed investment dragged expansion down.
Friday June 10 2016
Turkey Economy Expands 4.8% in Q1  
The Turkish economy advanced 4.8 percent on the year in the three months to March of 2016, following a 5-year high of 5.7 percent expansion in the previous period and beating market expectations of 4.5 percent growth. Household consumption and government expenditure were the main drivers of growth while fixed investment contracted and net external demand contributed negatively.
Friday June 03 2016
Turkey Inflation Rate Unchanged in May  
Consumer prices in Turkey increased by 6.58 percent year-on-year in May of 2016, virtually unchanged from April's 6.57 percent growth and missing market consensus of 6.90 percent gain. While prices of food increased further, cost of housing, transportation and furnishings rose at a slower pace.
Tuesday May 31 2016
Turkey Trade Gap Narrows 16% in April  
Turkey's trade deficit dropped 16.3 percent to $4.21 billion in April of 2016, compared to a $5.24 billion gap a year earlier. Exports went down 10.2 percent to to $11.98 billion, due to lower sales of manufactured goods (-10.8 percent); while imports declined at a faster 11.9 percent, as purchases of fisheries (-46.9 percent) and mining and quarrying (-36.3 percent) fell by the most.
Tuesday May 24 2016
Turkey Holds Key Rate at 7.5%, Cuts Lending Rate to 9.5%  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on May 24th, as widely expected, saying it will maintain the tight monetary policy stance considering the underlying core inflation trend. The bank, however, lowered its top end of rate corridor for a third time in a row to 9.5 percent, signaling a willingness to ease policy, while it kept the overnight borrowing rate at 7.25 percent. Inflation eased to 6.57 percent in April, its lowest in almost three years, but it still remains well above the central bank's 5 percent target.
Monday May 16 2016
Turkey Unemployment Rate Falls in February  
The jobless rate in Turkey declined to 10.9 percent in February of 2016 from 11.2 percent a year earlier as employment increased in services and construction. The unemployment rate usually rises from June to January due to seasonal factors. In the previous month, the jobless rate hit an 11-month high of 11.1 percent.
Tuesday May 03 2016
Turkish Inflation Rate at Nearly 3-Year Low  
Consumer prices in Turkey went up by 6.57 percent year-on-year in April of 2016, following a 7.46 percent rise in March and below market expectation of 6.83 percent increase. It is the lowest figure since May 2013 as cost of food increased at a slower pace.
Friday April 29 2016
Turkish Trade Gap Narrows by 20.3% in March  
Trade deficit in Turkey dropped by 20.3 percent to USD 4.946 billion in March of 2016, compared to a USD 6.205 billion gap a year earlier, as exports grew 2.3 percent while imports fell 5.2 percent.
Wednesday April 20 2016
Turkey Holds Key Rate at 7.5%, Cuts Lending Rate to 10%  
Turkish central bank left its benchmark one-week repo rate unchanged at 7.5 percent on April 20th, as widely expected, saying it will maintain the tight monetary policy stance considering the current inflation expectations and pricing behavior. The bank, however, lowered its overnight lending rate for a second time in a row to 10 percent, signaling a willingness to ease policy despite high inflation, while it kept the overnight borrowing rate at 7.25 percent.
Friday April 15 2016
Turkey Unemployment Rate Rises to 11-Month High  
Turkish jobless rate increased for the second consecutive month to 11.1 percent in January of 2016 from 10.8 percent in the previous month and reaching a fresh high since February last year. Non-farm unemployment went up to 13 percent from 12.7 percent while youth unemployment rate was steady at 19.2 percent.
Monday April 04 2016
Turkish Inflation Rate at 7-Month Low  
Consumer prices in Turkey increased by 7.46 percent year-on-year in March of 2016, easing from an 8.78 percent growth in the previous month. It is the lowest figure since August 2015, due to slower rise in cost of food, housing, utilities and transport.
Thursday March 31 2016
Turkey Trade Deficit at Nearly 6-1/2-Year Low  
Turkish trade gap narrowed by 32.8 percent year-on-year to 3165 USD million in February of 2016. It is the lowest deficit since October of 2009 as exports increased 1.4 percent while imports fell 8.1 percent.
Thursday March 31 2016
Turkish Q4 GDP Growth Slows to 0.7%  
Turkish GDP advanced 0.7 percent on the quarter in the three months to December of 2015, slowing from a downwardly revised 1.2 percent growth in the previous quarter. While fixed investment was the main driver of growth, private consumption expanded at a slower pace and public spending shrank.
Thursday March 31 2016
Turkish Economy Expands 5.7% in Q4  
The Turkish economy advanced 5.7 percent on the year in the three months to December of 2015, following a downwardly revised 3.9 percent expansion in the previous period and beating market expectations of 5.2 percent. It was the highest growth rate since the third quarter of 2011, boosted by private consumption, government expenditure and fixed investment. Considering full 2015, the GDP advanced 4 percent, accelerating from a 3 percent growth in 2014.
Thursday March 24 2016
Turkey Leaves Repo Rate Unchanged at 7.5%  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on March 24th, saying that it will maintain the tight monetary policy stance considering the current inflation expectations and pricing behavior. Inflation rate was last recorded at 8.8 percent in February of 2016, after hitting a 20-month high of 9.6 percent in January. The central bank cut the overnight lending rate to 10.5 percent and kept the overnight borrowing rate at 7.25 percent.
Tuesday March 15 2016
Turkey Unemployment Rate at 10-Month High  
Turkish jobless rate increased to 10.8 percent in December of 2015 from 10.5 percent in the previous two months, reaching the highest since February last year. Non-farm unemployment went up to 12.7 percent from 12.4 percent and youth unemployment rate edged up 0.1 percentage point to 19.2 percent.
Thursday March 03 2016
Turkish Inflation Rate Slows to 8.8% in February  
Consumer prices in Turkey increased by 8.78 percent year-on-year in February of 2016, easing from a 9.58 percent growth in the previous month while staying below market consensus of 9.35 percent, as cost of food and transportation rose at a slower pace.
Monday February 29 2016
Turkey Trade Gap Narrows 13% in January  
The Turkish trade deficit decreased by 13.4 percent to $3.762 billion in January 2016, compared to a $4.343 billion shortfall a year earlier. It was the smallest deficit since October last year, as exports dropped to its lowest level in four years while imports fell to its lowest value since February 2010.
Tuesday February 23 2016
Turkey Holds Key Rate at 7.5%  
Turkish central bank left its benchmark one-week repo rate unchanged at 7.5 percent on February 23rd meeting, as expected. The Committee said that the tight liquidity stance will be maintained, considering the wage developments and the impact of the uncertainty in global markets on inflation expectations and pricing behavior. Policymakers added that future decisions will be conditional on the inflation outlook.
Monday February 15 2016
Turkish Jobless Rate Steady in November  
Turkish unemployment rate came in at 10.5 percent in November of 2015, the same figure as in the previous month but lower than 10.7 percent in a year earlier.
Wednesday February 03 2016
Turkey Inflation Rate Highest Since May 2014  
Consumer prices in Turkey increased by 9.58 percent year-on-year in January of 2016, accelerating from 8.81 percent in the previous month and beating market consensus. It was the highest value since May of 2014, as cost of food, housing and transportation rose at a faster pace.
Friday January 29 2016
Turkish Trade Gap Narrows 27.4% YoY in December  
Trade deficit in Turkey decreased by 27.4 percent to USD6.183 billion in December of 2015, compared to a USD8.519 billion shortfall a year earlier, as imports fell more than exports.
Tuesday January 19 2016
Turkey Leaves Rates Unchanged for 11th Straight Month  
Turkish central bank kept its benchmark one-week repo rate on hold for the eleventh consecutive month at 7.5 percent at its first meeting of the year, saying that the tight liquidity stance will be maintained as long as deemed necessary to curb rising inflation rate. The move was expected by markets.
Friday January 15 2016
Turkish Jobless Rate Highest in 7 Months  
Turkish unemployment rate increased to 10.5 percent in October of 2015 from 10.3 percent in the previous month and above market expectations of 10.3 percent. The figure marked the highest since March.
Monday January 04 2016
Turkey Inflation Rate Up to 8.81%  
Consumer prices in Turkey increased 8.81 percent year-on-year in December of 2015, higher than an 8.1 percent rise in November and the biggest jump since November of 2014.
Thursday December 31 2015
Turkish Trade Gap Narrows 49.1% YoY in November  
Trade deficit in Turkey decreased by 49.1 percent to USD4.236 billion in November of 2015, compared to a USD8.317 billion shortfall a year earlier, as imports fell more than exports.
Tuesday December 22 2015
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent at its December meeting, as policymakers said that the tight liquidity stance will be maintained as long as deemed necessary to contain rising consumer prices. Analysts were expecting the repo rate to rise.
Tuesday December 15 2015
Turkish Jobless Rate Highest in 6 Months  
Turkish unemployment rate was recorded at 10.3 percent in September of 2015, up from 10.1 percent in the previous month but down from 10.5 percent a year earlier. The figure is the highest since March.
Thursday December 10 2015
Turkish Economy Grows at Slowest Pace This Year  
Turkish GDP advanced 1.3 percent on quarter in the three months to September of 2015, slowing slightly from an upwardly revised 1.4 percent increase in the previous quarter, boosted by households and government spending while a contraction in fixed investment dragged the expansion down.
Thursday December 10 2015
Turkish GDP Grows 4% in Q3, Beats Forecasts  
The Turkish economy advanced 4 percent year-on-year in the three months to September of 2015, following a 3.8 percent expansion in the previous period and staying way above market expectations of 2.8 percent. It was the highest growth rate since the first quarter of 2014, mainly boosted by government expenditure and a positive contribution from net external demand.
Thursday December 03 2015
Turkey Inflation Rate At 11-Month High  
Consumer prices in Turkey rose 8.1 percent year-on-year in November of 2015, accelerating from 7.58 percent in the previous month and above market consensus. It was the highest value since December of 2014, pushed up by cost of food & non-alcoholic beverages and housing & utilities.
Monday November 30 2015
Turkey Trade Gap Narrows to Fresh 5-Year Low  
The Turkish trade deficit decreased by 42.3 percent to USD 3.621 billion in October of 2015, compared to a USD 6.2 billion shortfall a year earlier. It is the smallest deficit since February 2010.
Tuesday November 24 2015
Turkey Keeps Rates Steady in November  
Turkish central bank letf its benchmark one-week repo rate on hold at 7.5 percent at its first meeting since November 1st election, as policymakers showed concerns about uncertainty regarding the strength of the global economy and about volatility in energy and food prices. They bank also said it would keep tight liquidity stance as long as necessary.
Monday November 16 2015
Turkish Jobless Rate at 10.1% in August  
Unemployment rate in Turkey increased to 10.1 percent in August of 2015 from to 9.8 percent in July but remained the same compared to the same period a year earlier. It was the highest unemployment rate since March as unemployment grew 3.9 percent year-on-year while employment increased at a slower 3.2 percent.
Tuesday November 03 2015
Turkey Inflation Rate Eases in October  
Consumer prices in Turkey rose 7.58 percent year-on-year in October of 2015, slowing from 7.95 percent in the previous month and below market consensus. A slowdown in cost of food & non-alcoholic beverages and housing & utilities offset an increase in cost of transport and furnishings, household equipment and routine maintenance.
Friday October 30 2015
Turkey Trade Deficit Narrows in September  
The Turkish trade gap decreased by 46.6 percent to USD3.74 billion in September of 2015, compared to a USD6.93 billion shortfall a year earlier and in line with market expectations. It is the smallest deficit since February 2010.
Wednesday October 21 2015
Turkey Leaves Rates Unchanged in October  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on October 21st, as policymakers voiced concern about the uncertainty in domestic and global markets on inflation expectations and the volatility in energy and food prices. They also said that the tight liquidity stance will be maintained until there is a significant improvement in the inflation outlook.
Thursday October 15 2015
Turkey Unemployment Rate at 4-Month High  
Turkish jobless rate increased to 9.8 percent in July of 2015, the highest since March and remained unchanged from a year earlier.
Monday October 05 2015
Turkey Inflation Rate At 4-Month High in September  
Consumer prices in Turkey increased by 7.95 percent year-on-year in May of 2015, up from 7.14 percent in the previous month. It was the highest value since June this year, as cost of food rose at a faster pace.
Wednesday September 30 2015
Turkey Trade Deficit at 6-Month Low  
The Turkish trade gap decreased 39.8 percent to USD 4.88 billion in August of 2015, compared to a USD 8.11 billion shortfall a year earlier and in line with market expectations.
Tuesday September 22 2015
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on September 22nd, saying it will maintain the tight liquidity stance until there is a significant improvement in the inflation outlook.
Tuesday September 15 2015
Turkey Unemployment Rate Edges Up to 9.6%  
Turkish jobless rate increased to 9.6 percent in June of 2015, compared to 9.1 percent a year earlier, as unemployment grew 8.5 percent while employment increased at a slower 2.5 percent.
Thursday September 10 2015
Turkish Economy Expands 1.3% QoQ in Q2  
Turkish GDP advanced 1.3 percent on quarter in the three months to June of 2015, slowing slightly from an upwardly revised 1.5 percent increase in the first three months of the year due to a slowdown in private and public spending while exports keep falling.
Thursday September 10 2015
Turkish GDP Growth Accelerates in Q2  
The Turkish economy expanded 3.8 percent year-on-year in the three months to June of 2015, following an upwardly revised 2.5 percent increase in the previous period and better than market forecasts. It is the highest growth rate since the first quarter of 2014, driven by domestic demand.
Thursday September 03 2015
Turkey Inflation Rate Rises in August  
Consumer prices in Turkey increased 7.14 percent year-on-year in August of 2015, up from 6.81 percent in the previous month, as cost of food, housing, hotels, cafes and restaurants rose at a faster pace.
Monday August 31 2015
Turkish Trade Deficit Widens in July  
Trade gap in Turkey increased 6.5 percent to USD 7.28 billion in July from USD 6.596 billion a year earlier as exports fell more than imports.
Tuesday August 18 2015
Turkey Leaves Rates on Hold  
Turkish central bank kept its benchmark one-week repo rate at 7.5 percent on August 18th, saying it will maintain a cautious monetary policy stance until there is a significant improvement in the inflation outlook. The bank also decided to adopt a tighter liquidity policy as long as uncertainty in global and domestic markets and volatility in food and energy prices continue to affect financial stability.
Monday August 17 2015
Turkey Unemployment Rate at 11-Month Low  
Turkish jobless rate decreased for the fourth straight month to 9.30 percent in May from 9.60 percent in April of 2015. Although it is the lowest figure since June of 2014, it was up from 8.8 percent in the same period a year earlier.
Monday August 03 2015
Turkey Inflation Rate At 31-Month Low in July  
Consumer prices in Turkey increased 6.81 percent year-on-year in July of 2015, down from 7.20 percent in the previous month, as cost of food, housing and transportation rose at a slower pace. It was the lowest figure since January of 2013.
Friday July 31 2015
Turkish Trade Deficit Narrows in June  
Trade gap in Turkey decreased 21.6 percent to USD 6.206 billion in June from USD 7.912 billion a year earlier as imports fell more than exports.
Thursday July 23 2015
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent for the fifth consecutive month in July, as policymakers showed concern about the uncertainty in global markets and volatility in energy and food prices. The decision was expected by markets.
Wednesday July 15 2015
Turkey Unemployment Rate Falls Further  
Turkish jobless rate decreased to 9.6 percent in April of 2015 from 10.6 percent in the previous month. It is the lowest figure since June of 2014.
Friday July 03 2015
Turkey Inflation Rate Slows in June  
Consumer prices in Turkey increased 7.2 percent year-on-year in June of 2015, down from a 5-month high 8.09 percent in the previous month, as cost of food and transportation rose at a slower pace.
Tuesday June 30 2015
Turkish Trade Deficit Narrows in May  
Trade gap in Turkey decreased by 6.1 percent to USD 6.75 billion in May from USD 7.19 billion a year earlier, as both exports and imports declined.
Tuesday June 23 2015
Turkey Leaves Rates Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in June, as expected. Policymakers voiced concern about growing inflation pressure, even though it is expected to slow in the short term.
Monday June 15 2015
Turkey Jobless Rate at 6-Month Low  
Turkish unemployment rate decreased to 10.6 percent in March of 2015 from 11.2 percent in the previous month. It is the lowest figure since October 2014, as the number of unemployed persons fell while employment rose.
Wednesday June 10 2015
Turkey GDP Growth at 1.3% in Q1  
The Turkish economy expanded 1.3 percent on quarter in the first three months of 2015. It is the highest growth rate in a year due to a rebound in exports.
Wednesday June 10 2015
Turkey GDP Growth Beats Forecasts  
The Turkish economy expanded 2.3 percent year-on-year in the first three months of 2015, slowing from a 2.6 percent increase in the previous period but better than market expectations, driven by household and public spending.
Monday June 08 2015
Turkey Cuts Foreign Curency Deposit Rate  
The rates applied to banks' one week maturity borrowings from the Central Bank have been reduced from 4 percent to 3.5 percent for USD and from 2 percent to 1.5 percent for EUR, effective from June 9, 2015.
Wednesday June 03 2015
Turkey Inflation Rate At 5-Month High  
Consumer prices in Turkey increased 8.09 percent year-on-year in May of 2015, up from 7.91 percent in the previous month as cost of transportation and housing rose at a faster pace.
Friday May 29 2015
Turkish Trade Deficit Narrows 31.9% YoY in May  
Trade gap in Turkey decreased by 31.9 percent to USD 4.97 billion in April from USD 7.22 billion a year earlier, as exports slightly increased and imports declined.
Wednesday May 20 2015
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in May, as expected by markets. Policymakers showed concern over the high levels of inflation, that has been on an upward trend since the beginning of the year.
Friday May 15 2015
Turkey Unemployment Rate Slows to 11.2%  
Turkish jobless rate decreased to 11.2 percent in February of 2015, after reaching a 5-year high in the previous month, as the number of unemployed persons fell while employment rose.
Monday May 04 2015
Turkey Inflation Rate Rises in April  
Turkish consumer prices increased 7.91 percent year-on-year in April of 2015, following a 7.61 percent rise in the previous month. It is the highest inflation rate in four months due to rising food prices.
Thursday April 30 2015
Turkish Trade Deficit Widens in March  
Trade gap in Turkey increased 17.2 percent to USD 6.16 billion in March as exports fell more than imports.
Wednesday April 22 2015
Turkey Leaves Rates Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in April, as high food prices keep pushing inflation up. The decision was expected by markets.
Wednesday April 15 2015
Turkey Jobless Rate Up for Third Consecutive Month  
Turkish unemployment rate increased for the third straight month to 11.3 percent in January of 2015, reaching the highest since February of 2011, as the number of unemployed persons rose while employment fell.
Friday April 03 2015
Turkey Inflation Rate at 3-Month High  
Turkish consumer prices rose 7.61 percent year-on-year in March of 2015, up from 7.55 percent in February as food prices rose at its fastest pace in four months.
Tuesday March 31 2015
Turkey GDP Growth Beats Expectations in Q4  
The Turkish economy expanded 2.6 percent year-on-year in the last three months of 2014, compared with an upwardly revised 1.9 percent increase reported in the previous period. Yet, considering full 2014, the GDP slowed sharply due to a drop in investment and lower household consumption.
Tuesday March 31 2015
Turkey GDP Expands 0.7% in Q4  
The Turkish economy advanced 0.7 percent on quarter in the three months to December 2014, following a upwardly revised 0.5 percent expansion in the previous period. The expansion was driven by manufacturing, agriculture sector, information & communication and real estate.
Tuesday March 31 2015
Turkey Trade Deficit Narrows 10.2% in February  
Turkey trade gap decreased to USD 4.66 billion in February of 2015 from a USD 5.19 billion shortfall a year earlier, as imports fell more than exports.
Tuesday March 17 2015
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent on March 17th of 2015 following last month's 25 bps cut.
Monday March 16 2015
Turkey Unemployment Rate at 4-Year High  
Turkish jobless rate increased for the second straight month to 10.9 percent in December of 2014, reaching the highest since February of 2011 as the number of unemployed persons rose while employment fell.
Tuesday March 03 2015
Turkey Inflation Edges Up in February  
Turkey annual inflation accelerated to 7.55 percent in February of 2015 from a 7.24 percent increase in the previous month due to higher food prices. In February of last year, inflation was 7.4 percent.
Friday February 27 2015
Turkey Trade Deficit Narrows 37.5% in January  
Turkey trade gap decreased to USD 4.305 billion in January of 2015 from a USD 6.886 billion shortfall a year earlier, as imports fell at a faster pace than exports.
Tuesday February 24 2015
Turkey Cuts Key Rate to 7.5%  
Turkish central bank lowered its benchmark one-week repo rate by 25 bps to 7.5 percent in February as a temporary fall in inflation due to the global oil price plunge gave room for easing.
Monday February 16 2015
Turkey Unemployment Rate Up to 10.7% in November  
Turkey’s jobless rate increased to 10.7 percent in November of 2014 from 10.4 percent in the previous month as the number of unemployed persons rose.
Tuesday February 03 2015
Turkish Inflation Eases to 14-Month Low in January  
Turkish annual inflation rate eased to 7.24 percent in January of 2015 from 8.17 percent in the previous month. It is the lowest figure since November 2013, as prices of services, food and clothing and footwear slowed while cost of transportation fell.
Friday January 30 2015
Turkey Trade Deficit Narrows 14.6% in December  
Turkey trade gap decreased to USD 8.506 billion in December of 2014 from a USD 9.964 billion shortfall a year earlier, due to a fall in imports.
Tuesday January 20 2015
Turkey Cuts Benchmark Interest Rate to 7.75%  
Turkish central bank cut the benchmark one-week repo rate by 50 bps to 7.75 percent at its January 20th meeting, as inflation is slowing due to plunge in oil prices. Other key rates were left on hold.
Thursday January 15 2015
Turkey Unemployment Rate Slightly Down in October  
Turkey’s jobless rate decreased to 10.4 percent in October of 2014 from 10.5 percent in the previous month as the number of unemployed persons dropped.
Monday January 05 2015
Turkey Inflation Rate Slows in December  
Turkish annual inflation rate eased to 8.17 percent in December of 2014 from 9.15 percent in the previous month. It is the lowest figure since March of 2014, due to a slowdown in food cost.
Wednesday December 31 2014
Turkey Trade Deficit Widens in November  
Turkey trade gap increased 15.43 percent to USD 8.32 billion in November of 2014 from a USD 7.21 billion shortfall a year earlier, due to a fall in exports.
Wednesday December 24 2014
Turkey Leaves Rates Unchanged  
Turkish central bank left its benchmark one-week repo rate on hold at 8.25 percent in December, saying current policy stance will be maintained until there is a clear improvement in inflation outlook.
Monday December 15 2014
Turkish Unemployment Rate at 19-Month High  
Turkish jobless rate increased to 10.5 percent in September of 2014 from 10.1 percent in the previous month. Youth unemployment edged up to 19.1 percent.
Wednesday December 10 2014
Turkey GDP Growth Rebounds  
The Turkish economy advanced 0.4 percent on quarter in the three months to September, following a 0.5 percent contraction in the previous period. The expansion was driven by financial and insurance activities, transportation, construction and mining.
Wednesday December 10 2014
Turkish Economy Grows Below Expectations  
Turkey’s GDP advanced 1.7 percent year-on-year in the third quarter of 2014, following a revised 2.2 percent expansion in the previous period. The economy slowed for the second consecutive quarter as private consumption eased and investment continues to decline.
Wednesday December 03 2014
Turkish Inflation Rate Quickens in November  
Turkish annual inflation rate accelerated to 9.15 percent in November of 2014 from 8.96 percent in the previous month, as prices of food; hotels, cafes and restaurants continued to increase.
Friday November 28 2014
Turkey Trade Deficit Narrows in October  
Turkish trade gap decreased to USD 6.25 billion in October of 2014 from a USD 7.42 billion shortfall a year earlier, driven by higher exports.
Thursday November 20 2014
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank decided to maintain its benchmark one-week repo rate at 8.25 percent at its November 20th meeting, saying the current policy stance has a favorable impact on core inflation and it will be maintained until the inflation outlook improves.
Monday November 17 2014
Turkey Unemployment Rate Edges Up to 10.1%  
Turkish jobless rate increased to 10.1 percent in August of 2014 from 9.8 percent in the previous month. Youth unemployment rate increased sharply to 18.9 percent from 12 percent in July.
Monday November 03 2014
Turkish Inflation Rate Rises in October  
Turkish annual inflation rate accelerated to 8.96 percent in October of 2014 from 8.86 percent in September, as prices of food and cost of hotel, cafes and restaurants continued to rise. 
Friday October 31 2014
Turkey Trade Deficit Narrows on Falling Imports  
Turkish trade gap decreased to USD 6.93 billion in September of 2014 from a USD 7.5 billion shortfall a year earlier. Exports recorded the highest annual increase since April while imports shrank marginally.
Thursday October 23 2014
Turkey Leaves Rates on Hold  
Central Bank of Turkey left its benchmark one-week repo rate unchanged at 8.25 percent on October 23rd as inflation rate remains high and lira continues to weaken.
Wednesday October 15 2014
Turkey Unemployment Rate Up to 9.8%  
Turkish jobless rate increased for the second straight month to 9.8 percent in July of 2014 from 9.1 percent in the previous month. It is the highest rate in five months.
Friday October 03 2014
Turkey Inflation Rate Eases in September  
Turkish annual inflation rate eased to 8.86 percent in September of 2014 from 9.54 percent in August, as food prices slowed, and below market forecasts.
Tuesday September 30 2014
Turkish Trade Deficit Widens 13.5%  
Turkey’s trade gap increased to USD 8.04 billion in August of 2014 from a USD 7.08 billion shortfall a year earlier. It is the highest trade deficit since December of 2013.
Tuesday September 30 2014
Turkey Trade Deficit Widens in August  
In August of 2014, the Turkish trade gap increased to USD 8.04 billion from a USD 7.08 billion shortfall a year earlier, as imports grew faster than exports, and above market expectations. In July, the country posted a USD 6.46 billion trade deficit.
Thursday September 25 2014
Turkey Leaves Monetary Policy Unchanged  
Turkish central bank decided on September 25th to leave its benchmark one-week repo rate unchanged at 8.25 percent. The remaining rates were also left on hold, as high food prices keep pushing inflation up.
Monday September 15 2014
Turkey Unemployment Rate Rises in June  
Turkey’s jobless rate increased to 9.1 percent in June of 2014, up from 8.8 percent in the previous month and above market forecasts.
Wednesday September 10 2014
Turkey GDP Contracts 0.5% QoQ in Q2  
The Turkish economy contracted a seasonally adjusted 0.5 percent quarter-on-quarter in the second quarter of 2014, following a revised 1.8 percent expansion in the previous period. It is the first contraction in more than two years as agriculture, manufacturing and trade shrank.
Wednesday September 10 2014
Turkey GDP Growth Slows in Q2  
The Turkish economy expanded 2.1 percent year-on-year in the second quarter of 2014, slowing from a revised 4.7 percent expansion in the previous period. Investment shrank for the second straight quarter and private consumption slowed sharply.
Wednesday September 03 2014
Turkish Inflation Rate Continues to Rise in August  
Turkish annual inflation rate accelerated to 9.54 percent in August of 2014 from 9.32 percent in July as food prices continued to increase.
Friday August 29 2014
Turkey Trade Deficit Narrows 34.8% in July  
In July of 2014, the Turkish trade gap decreased to USD 6.46 billion from a USD 9.90 billion shortfall a year earlier, as imports fell much faster than the increase of exports.
Wednesday August 27 2014
Turkey Leaves Benchmark Rate on Hold; Cuts Lending Rate  
Turkish central bank decided on August 27th to leave its one-week repo rate unchanged at 8.25 percent, while cutting its overnight lending rate by 75 bps to 11.25 percent. The borrowing rate for primary dealers was also reduced by 75 bps 10.75 percent.
Monday August 04 2014
Turkish Inflation Rate Rises in July  
Turkey’s annual inflation rate accelerated to 9.32 percent in July, from 9.16 percent recorded in June as prices of food continued to rise.
Friday July 25 2014
Turkey Trade Deficit Narrows to USD 7.85 Billion  
In June of 2014, the Turkish trade gap decreased to USD 7.85 billion from a USD 8.61 billion shortfall a year earlier, due to a fall in imports.
Thursday July 17 2014
Turkey Cuts Rates for 3rd Straight Meeting  
At its July 17th meeting, Turkey’s central bank lowered the benchmark one-week repo rate by 50 bps to 8.25 percent, saying the impact of exchange rate developments since mid-2013 on inflation is gradually tapering off.
Tuesday July 15 2014
Turkish Unemployment Down to 9-Month Low  
Turkey’s jobless rate decreased for the second straight month to 9 percent in April of 2014 from 9.7 percent in the previous month. It is the lowest rate since July of 2013.
Thursday July 03 2014
Turkey Inflation Slows in June  
Turkish annual inflation rate decelerated for the first time in seven months to 9.16 percent in June of 2014 from 9.66 percent in the previous month as food prices slowed.
Monday June 30 2014
Turkish Trade Deficit Narrows in May  
Turkey’s trade gap decreased for the fifth straight month by 28.7 percent year-on-year to USD 7.1 billion in May of 2014, driven by a fall in imports.
Tuesday June 24 2014
Central Bank of Turkey Cuts Interest Rate  
At its June 24th, 2014 meeting, Central Bank of Turkey decided to lower the benchmark interest rate by 75 bps to 8.75 percent. It is the second consecutive rate cut, citing recent improvement in global liquidity conditions and lower inflation expectations.
Monday June 16 2014
Turkey Unemployment Rate Falls in March  
Turkish jobless rate decreased to 9.7 percent in March of 2014 from 10.2 percent in February. It is the lowest rate in five months.
Tuesday June 10 2014
Turkish GDP Growth Accelerates in Q1  
The Turkish economy advanced a seasonally adjusted 1.7 percent quarter-on-quarter in the first three months of 2014, up from a revised 0.9 percent expansion in the previous quarter. The GDP grew at its fastest pace in a year, boosted by agricultural and mining production.
Tuesday June 10 2014
Turkish Economy Advances 4.3% in Q1  
The Turkish GDP grew 4.3 percent year-on-year in the first three months of 2014, slowing slightly from a 4.4 percent expansion in the previous period. A surge in exports and higher government spending were enough to offset a slowdown in household consumption and a drop in investment.
Tuesday June 03 2014
Turkey Inflation Rate Rises Further To 2-Year High  
Turkish annual consumer inflation accelerated further to 9.66 percent in May of 2014 from 9.38 percent in the previous month, driven by higher food prices.
Friday May 30 2014
Turkey Trade Deficit Narrows 30.3% in April  
Turkish trade gap shrank to USD 7.2 billion in April of 2014 from USD 10.4 billion a year earlier, as exports rose 7.9 percent and imports fell 9.5 percent.
Thursday May 22 2014
Central Bank of Turkey Cuts Rate  
At its May 22nd, 2014 meeting, Turkish central bank decided to cut its one-week repo rate by 50 bps to 9.5 percent, citing an improvement in risk premium indicators and a decline in uncertainties.
Thursday May 15 2014
Turkey Unemployment Rate Rises in February  
Turkish jobless rate increased for the fourth consecutive month to 10.2 percent in February of 2014, up from 10.1 percent recorded in the previous month. Since February of 2014, the Household Labour Force Survey methodologies have changed, to ensure its full compliance with the European Union standards.
Monday May 05 2014
Turkey Inflation Rate At 2-Year High in April  
Turkish annual inflation rate quickened to 9.38 percent in April of 2014, up from 8.39 percent in the previous month, driven by higher food and transport cost.
Wednesday April 30 2014
Turkish Trade Deficit Stable in March  
In March, Turkey's trade gap was slightly up to $5.20 billion from $5.16 billion in February and narrowed from $7.44 billion in the same month of 2013. Exports increased by 12.4 percent yoy while imports fell 3.2 percent yoy.
Thursday April 24 2014
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Tuesday April 15 2014
Turkey Unemployment Rate Edges Up Slightly in January  
Turkish jobless rate increased for the third consecutive month in January of 2014 to 10.1 percent, up from 10.0 percent in the previous month, but decreased compared with 10.6 percent recorded a year earlier.
Thursday April 03 2014
Turkish Inflation Rate Rises Further in March  
Turkey’s annual inflation rate accelerated to 8.39 percent in March of 2014, from 7.89 a year earlier and 7.29 percent recorded in February of 2014, as food and transportation costs edged up. This is the highest rate in eight months.
Monday March 31 2014
Turkey GDP Expands 0.5% in Q4  
Turkey's seasonal and calendar adjusted GDP advanced 0.5 percent in the last quarter of 2013, while GDP growth reached 4.0 percent in 2013.
Monday March 31 2014
Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years  
The trade deficit decreased in February of 2014 to USD -5.1 billion from USD -7.0 billion a year earlier and USD -6.9 billion in January of 2014. Compared with February of 2013, manufacturing exports climbed while imports of agriculture and manufactured goods decreased.
Monday March 31 2014
Turkish GDP Growth Beats Expectations in Q4  
In the last three months of 2013, the Turkish economy expanded 4.4 percent over a year earlier, up from a revised 4.3 percent in the previous three months and above market expectations.
Tuesday March 18 2014
Turkey Leaves Rates on Hold  
At its March 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate unchanged at 10 percent and the overnight lending rate at 12 percent, as January’s rate hike helped to stabilize the lira.
Monday March 17 2014
Turkish Unemployment Rate at 10%  
In December of 2013, Turkey’s jobless rate edged marginally higher to 10 percent from 9.9 percent in the previous month. A year earlier, unemployment was recorded at 10.1 percent.
Monday March 03 2014
Turkey Inflation Rate Edges Higher  
In February of 2014, Turkish annual inflation rate accelerated for the third straight month to 7.89 percent from 7.75 percent in the previous month. On a monthly basis, prices decelerated to 0.43 percent, following a 1.98 percent rise a month earlier.
Friday February 28 2014
Turkish Trade Deficit Narrows in January  
Turkey’s trade deficit decreased in January of 2014, to USD -6.8 billion from USD -7.3 billion a year earlier and USD 9.9 billion in December of 2013. Exports to the European Union increased by 13.7 percent with Germany as the main exports’ partner and Russia as the top country for imports.
Tuesday February 18 2014
Turkish Monetary Policy Unchanged in February  
At its February 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate on hold at 10 percent and the overnight lending rate at 12 percent. Last month, the central bank rose rates sharply aiming to stabilize the lira.
Monday February 17 2014
Turkey’s Unemployment Rate Edges Up in November  
In November of 2013, Turkish jobless rate increased to 9.9 percent, after falling in the previous month to 9.7 percent. Non-agricultural unemployment rate reached 12 percent and youth unemployment rate was recorded at 19.3 percent. (0.5 percent higher than a year ago).
Wednesday February 05 2014
Turkish Inflation Rate Accelerates for Second Straight Month  
In January of 2014, Turkey’s CPI accelerated for the second straight month to 7.75 percent due to higher transport, food and cigarette prices. Inflation has been on an upward trend in recent months driven by a weak lira and higher-than-expected global oil prices.
Friday January 31 2014
Turkish Trade Deficit Widens 18.7% in 2013  
In December of 2013, Turkish trade deficit widened to USD 9.92 billion as exports fell 7 percent over the previous month, hurt by a weakening lira. Full 2013 trade deficit widened 18.7 percent over 2012 and reached USD 99.78 billion.
Tuesday January 28 2014
Bank of Turkey Raises Rates Sharply  
At an emergency policy meeting on January 28th, the Central Bank of Turkey decided to raise the benchmark repo rate to 10 percent from 4.5 percent and the overnight lending rate to 12 percent from 7.75 percent reversing years of policy after the lira slid to a record low.
Tuesday January 21 2014
Bank of Turkey Leaves Rates Unchanged in January  
At its January 21st meeting, the Central bank of Turkey decided to leave the benchmark one-week repo rate unchanged at 4.5 percent in spite of high inflation and a weakening lira.
Wednesday January 15 2014
Turkey Unemployment Rate Falls in October  
In October of 2013, Turkish jobless rate fell for the first time in four months to 9.7 percent, after rising to 9.9 percent in the previous period. Employment in services and industry increased 0.5 percent and construction rose 0.2 percent, while jobs in agriculture decreased 1.3 percent.
Friday January 03 2014
Turkish Inflation Rate Edges Up to 7.4% in December  
In December, Turkey's consumer price index rose by 7.4 percent, up from 7.3 percent in the previous month. The slight pick-up was mainly driven by higher transportation and food prices.
Tuesday December 31 2013
Turkish Trade Deficit Edges Down in November  
In November, Turkey's trade deficit narrowed slightly to $7.15 billion from $7.19 billion in the same month of the previous year. Both exports and imports were up on an annual basis but shipments grew at a faster pace than inflows.
Tuesday December 17 2013
Turkey Monetary Policy Unchanged in December  
In its December 17th meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey left the benchmark one-week repo rate unchanged at 4.5 percent. The overnight lending rate was also kept at 7.75 percent, the interest rate on borrowing facilities provided for primary dealers via repo transactions at 6.75 percent, and borrowing rate at 3.5 percent. The late liquidity window interest rates were unchanged at 0 percent (borrowing) and 10.25 percent (lending).
Monday December 16 2013
Turkish Unemployment Rate Edges Up to 9.9% in September  
In September, Turkey's jobless rate increased to 9.9 percent from 9.8 percent in the previous month. The employment rate declined to 46.3 percent and youth unemployment rose further to 19.4 percent.
Tuesday December 10 2013
Turkey's GDP Grows 0.9% QoQ in Q3  
In the third quarter of 2013, the Turkish seasonal and calendar adjusted gross domestic product expanded 0.9 percent quarter-on-quarter, down from 2.0 percent in the previous quarter.
Tuesday December 10 2013
Turkish Economy Expands 4.4% YoY in Q3  
In the third quarter of 2013, Turkey's gross domestic product was up by 4.4 percent year-on-year. This is down from an upwardly revised 4.5 percent growth rate registered in Q2. The expansion exceeded expectations and was driven by growing investment.
Tuesday December 03 2013
Turkish Inflation Rate Decelerates Further to 7.3% in November  
In November, Turkey's consumer price index rose by 7.3 percent, down from 7.9 percent a month earlier. A slowdown in the rise of food and communication prices was able to offset rising imports costs driven by a weakening lira.
Friday November 29 2013
Turkey's Trade Deficit Widens in October  
In October, Turkish trade deficit increased to USD 7.37 billion from USD 5.6 billion in October of 2012, as exports reported a sharp drop, while imports went up remarkably.
Tuesday November 19 2013
Bank of Turkey Leaves Rates on Hold  
In its November 19th meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey left interest rates unchanged. The Bank hinted tighter monetary policy as inflation will hover above the target line due to weak lira.
Friday November 15 2013
Turkish Unemployment Rate Up to 9.8% in August  
In August of 2013, Turkish jobless rate increased to 9.8 percent from 9.3 percent in the previous month. When compared with August 2012, unemployment rate rose 1 percentage point and employment rate increased to 46.6 percent from 46.3 percent.
Monday November 04 2013
Turkey’s Inflation Rate Decelerates to 7.71% in October  
In October, Turkish inflation rate slowed for the third consecutive month to 7.71 percent, down from 7.88 percent in September and 7.8 percent a year ago. The slowdown is mainly due to lower housing cost.
Thursday October 31 2013
Turkish Trade Deficit Widens 7.6% YoY in September  
In September, Turkey’s trade deficit widened to USD 7.5 billion, up from USD 6.9 billion reported in September of 2012, due to rising imports.
Wednesday October 23 2013
Bank of Turkey Leaves Rates Unchanged  
In its October meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to remain the one-week repo policy rate on hold at 4.5 percent, citing continuous financial and price stability.
Friday October 11 2013
Turkish Unemployment Up to 9.3% in July  
In July of 2013, Turkish unemployment rate increased to 9.3 percent from 8.8 percent in the previous month. Compared to the same month of the previous year, the jobless rate is up by 0.9 percent. Employment rate slightly increased from 46.6 percent to 46.9 percent.
Thursday October 03 2013
Turkish Inflation Rate Down to 7.88% in September  
In September of 2013, Turkish inflation rate decelerated to 7.88 percent, from 8.2 percent last month, the lowest rate in four months. A slowdown in housing and food prices was enough to offset a rise in transport costs.
Monday September 30 2013
Turkey’s Trade Deficit Widens 17% YoY In August  
In August of 2013, Turkish trade deficit increased to USD 7.1 billion, from USD 5.9 billion a year earlier, as exports dropped 12.9 percent.
Tuesday September 17 2013
Bank of Turkey Keeps Rates on Hold  
In its September meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to leave the one-week repo policy rate unchanged at 4.5 percent, citing price and financial stability.
Monday September 16 2013
Turkish Unemployment Rate Steady at 8.8% in June  
In June of 2013, Turkish unadjusted unemployment rate remained unchanged from May’s reading of 8.8 percent. Compared with the same month last year, the jobless rate is up by 0.8 percentage points. Employment rate also improved in June and increased to 47.4 percent, from 46.8 percent a year ago.
Tuesday September 10 2013
Turkish GDP Up by 2.1% QoQ in Q2  
In the second quarter of 2013, Turkey's seasonal and calendar adjusted gross domestic product expanded 2.1 percent quarter-on-quarter, up from 1.5 percent in the previous quarter. This is the fastest quarterly growth since Q1 of 2011.
Tuesday September 10 2013
Turkish Economy Expands 4.4% YoY in Q2  
In the second quarter of 2013, Turkey's adjusted gross domestic product was up by 4.4 percent year-on-year. This is up from 2.9 percent registered in the previous quarter as all economic sectors expanded above expectations.
Tuesday September 03 2013
Turkish Inflation Rate Down to 8.2% in August  
In August, Turkey's consumer price index rose by 8.2 percent, down from 8.9 percent a month earlier. A slowdown in the rise of clothing and food prices was able to offset rising imports costs driven by a weakening lira.
Thursday August 29 2013
Turkey Trade Deficit Widens In July on Rising Imports  
In July of 2013, Turkish trade deficit increased to USD 9.8 billion, from USD 8.6 billion in the previous month and USD 8 billion a year earlier, due to higher imports.
Tuesday August 20 2013
Turkey Raises Overnight Lending Rate By 50bps  
In its August meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to leave the one-week repo policy rate unchanged at 4.5 percent. The borrowing rate has been kept at 3.5 percent, while the lending rate has been increased from 7.25 percent to 7.75 percent, to prevent further slide in the lira.
Thursday August 15 2013
Turkish Unemployment Rate Down to 8.8% in May  
In May of 2013, Turkish unadjusted unemployment rate decreased to 8.8 percent, the lowest value in nine months. Compared to the same month of the previous year, the jobless rate is up by 0.6 percentage points.
Monday August 05 2013
Turkish Inflation Rate Up to 8.9% in July  
In July, Turkey's consumer prices rose 8.9 percent, the highest level since September of 2012, mainly due to higher prices of food, transportation, alcoholic beverages and tobacco. From June to July, the consumer price index increased 0.3 percent.
Wednesday July 31 2013
Turkish Trade Deficit Widens YoY in June  
In June, Turkey's trade deficit widened to $8.57 billion from a $7.21 billion deficit registered in the same month of 2012. This is due to a fall in exports, down 6.0 percent from the previous year, and a rise of imports, up by 2.8 percent.
Tuesday July 23 2013
Central Bank of Turkey Leaves Benchmark Interest Rate on Hold at 4.5%  
In its July meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to leave the one-week repo policy rate unchanged at 4.5 percent. The borrowing rate has been kept at 3.5 percent, while the lending rate has been increased from 6.5 percent to 7.25 percent, to support price and financial stability.
Monday July 15 2013
Turkish Unemployment Down to 9.3% in April  
In May, Turkey's unadjusted unemployment rate decreased to 9.3 percent from 10.1 percent in March. Compared to the same month of the previous year, the unemployment rate is up by 0.3 percentage points. Youth unemployment decreased 0.3 percentage points to 18.3 percent.
Wednesday July 03 2013
Turkish Inflation Rate Up to 9-Month High in June  
In Turkey, the annual inflation rate accelerated in June to 8.3 percent, from 6.51 percent in May, the highest value in nine months, mainly due to higher prices of food, transportation, housing and alcoholic beverages and tobacco. From May to June, the consumer price index increased 0.76 percent.
Friday June 28 2013
Turkey Trade Deficit Widens 14.8% YoY in May  
In May, Turkey´s foreign trade deficit increased to $9893 million, from $8619 million in May of 2012. Exports rose 1.4 percent yoy to $13316 million and imports grew 6.7 percent yoy to $23209 million.
Friday August 16 2013
Turkish Economic Growth May be Threatened  
Although Turkish economy returned to strong growth in the first quarter of 2013 and recent data updates point to recovery in consumption and production, expansion in the months ahead remains vulnerable. The government's heavy handed response to street protests in connection with US Federal Reserve considering withdrawal of a supply of cheap money have already caused the biggest stock market drop in a decade, fell of Turkish Lira to an all-time low against the US dollar and 2 percent rise in government bond yields.
Tuesday June 18 2013
Turkey Keeps Monetary Policy Unchanged in June  
In its June meeting, the Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to leave the one-week repo policy rate unchanged at 4.5 percent, following two consecutive cuts. The borrowing rate was kept at 3.5 percent and the lending rate at 6.5 percent.
Monday June 17 2013
Turkish Unemployment Rate Up to 9.4% in March  
In the period of March 2013, the seasonally adjusted number of employed persons increased by 54 thousand and the number of unemployed persons increased by 39 thousand, compared to the previous period. Seasonally adjusted, labor force participation rate was 51.1 percent and the employment rate was 46.3 percent. The unemployment rate was 9.4 percent, a 0.2 percentage points increase.
Tuesday June 25 2013
Turkish Economic Growth May Accelerate Further in Q2 Of 2013  
Recent data updates for Turkey point to an increase in the economic activity in the quarters ahead. While low inflation and interest rates are likely to boost consumption, rise in business confidence points to a recovery in production.
Tuesday June 11 2013
Turkish Economy Expands 1.6% QoQ In Q1  
In the first quarter of 2013, Turkey´s Gross Domestic Product grew 1.6 percent seasonally and calendar adjusted, up from 0.1 percent registered in the previous three months, according to the Turkish Statistical institute.
Tuesday June 11 2013
Turkish Economic Growth Accelerates in Q1  
Turkish economy grew by 3 percent year-on-year in the first quarter of 2013, up from 1.4 percent expansion registered in the previous quarter, the Turkish Statistics Institute reported on June 11th. While services, manufacturing and construction activities increased, mining and quarrying declined.
Monday June 03 2013
Turkey Annual Inflation Rate Up To 6.51% In May  
In Turkey, the inflation rate increased slightly to 6.51 percent in May, from 6.13 percent in April.
Friday May 31 2013
Turkey Trade Deficit Widens 55.1% YOY In April  
In April, Turkey´s foreign trade deficit increased to $10304 million, from $6643 million in April of 2012. Exports decreased 0.9 percent yoy to $12520 million, while imports rose 18.4 percent yoy to $22824 million.
Thursday May 16 2013
Central Bank of Turkey Cuts Benchmark Interest Rate to 4.5% in May  
The Central Bank of Turkey cut the one-week repo policy rate to 4.5 percent from 5.0 percent. It cut the borrowing rate to 3.5 percent from 4.0 percent and the lending rate to 6.5 percent from 7.0 percent.
Wednesday May 15 2013
Turkish Unemployment Rate Down to 9.2% in February  
In the period of February 2013, the seasonally adjusted number of employed persons increased by 120 thousand and the number unemployed persons decreased by 29 thousand compared to the previous period. Seasonally adjusted labor force participation was 51 percent and employment rate 46.3 percent. The unemployment rate was 9.2 percent, a 0.2 percentage point decrease.
Thursday May 16 2013
Turkey Economy Continues to Slowdown  
Turkey economy has been markedly cooling down since early 2011 and expanded only 1.4% in Q4 of 2012, its slowest pace since the 2009 recession. Indeed, as the central bank increased reserve requirements on banks, credit-fueled domestic demand has been slowing down. Also, with global demand weak, Turkey's economic rebalancing away from household consumption and toward exports is becoming harder to achieve.
Tuesday April 30 2013
Turkey Trade Deficit Widens in March  
According to the provisional data, in March 2013; exports were $13,175 Million with a 0.3 percent decrease and imports were $20,560 Million with a 0.6 percent decrease compared with March 2012. In March 2013 exports coverage imports was 64.1 percent while it was 63.9 percent in March 2012.
Tuesday April 16 2013
Turkey Central Bank Cuts Benchmark Interest Rate to 5.0% in April  
The Central Bank of Turkey cut the one-week repo policy rate to 5.0 percent from 5.5 percent. It cut the borrowing rate to 4.0 percent from 4.5 percent and the lending rate to 7.0 percent from 7.5 percent.
Monday April 15 2013
Turkey Unemployment Rate Down to 9.4% in January  
In January 2012, the number of seasonally adjusted employed persons increased by 89 thousand persons and number of seasonally adjusted unemployed persons decreased by 28 thousand persons compared to the previous period. Seasonally adjusted labour force participation rate was 50.9 percent, 0.1 p.p. increase and employment rate was 46.1 percent, up by 0.1 p.p.. Unemployment rate was 9.4 percent, a 0.1 p.p. decrease.
Wednesday April 03 2013
Turkey Inflation Rate Up to 7.3% in March  
In Turkey, the CPI increased on same month of the previous year by 7.29 percent, on the previous month by 0.66 percent, on December of the previous year by 2.63 percent and on the twelve months moving averages basis by 8.08 percent in March 2013.
Monday April 01 2013
Turkey Gross Domestic Product Flat in Q4  
Seasonally and calendar adjusted gross domestic product in the fourth quarter of 2012 was unchanged (0.0 percent) compared to the previous quarter, calendar adjusted GDP increased by 1.4 percent compared to the same quarter of previous year.
Tuesday March 26 2013
Turkey Benchmark Interest Rate Unchanged; Overnight and Late Window Lending Rates Cut  
The Monetary Policy Committee has decided to adjust the short term interest rates as follows: One-week repo rate (the policy rate) has been kept at 5.50 percent. Overnight Borrowing rate was also unchanged at 4.50 percent while lending rate has been cut from 8.50 percent to 7.50 percent.
Friday March 15 2013
Turkey Unemployment Rate Up to 9.6 Percent In December  
In December of 2012, the number of seasonally adjusted employed persons decreased by 36 thousand and the number of unemployed persons increased by 20 thousand compared to the previous period.
Monday March 04 2013
Turkey Inflation Rate Down to 7.0 Percent in February  
In February of 2013, there was a rise in CPI over the previous month of 0.30 percent, on December of the previous year of 1.95 percent, on same month of the previous year of 7.03 percent and over the twelve month moving average basis of 8.33 percent.
Thursday February 28 2013
Turkey Trade Deficit Widens in January  
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade in January 2013, exports increased by 11.2 percent and reached to $11,509 million and imports increased by 7.6 percent and reached to $18,800 million compared with January 2012.
Tuesday February 19 2013
Turkey Benchmark Interest Rate Unchanged; Overnight Rates Cut  
The Monetary Policy Committee has decided to adjust the short term interest rates as follows: One-week repo rate (the policy rate) has been kept at 5.5 percent. Overnight Borrowing rate has been cut from 4.75 percent to 4.50 percent while lending rate has been cut from 8.75 percent to 8.50 percent.
Friday February 15 2013
Turkey Unemployment Rate at 9.4 Percent in November  
Number of unemployed persons increased by 201 thousand persons in the period of November 2012 and has reached to 2 million 630 thousand persons in Turkey. Unemployment rate was 9.4 percent with 0.3 percentage points increase from a year earlier.
Monday February 04 2013
Turkey Inflation Rate Up to 7.3 Percent In January  
In January of 2013, there was a rise in CPI over the previous month by 1.65 percent, over December of the previous year by 1.65 percent and over the same month of the previous year by 7.31 percent, according to a release from the Turkish Statistical Institute.
Thursday January 31 2013
Turkey Posts Trade Deficit in December  
According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in December 2012; exports increased by 1.4 percent and reached to 12 646 Million Dollars and imports decreased by 3.7 percent and reached to 19 825 Million Dollars compared with December 2011.
Tuesday January 22 2013
Turkey Interest Rate Unchanged at 5.5%  
The Central Bank of Turkey decided to hold the interest rate benchmark at 5.5% in January of 2012.
Tuesday January 15 2013
Turkey Unemployment Rate Stable at 9.1% in October  
Number of unemployed persons increased by 87 thousand persons in the period of October 2012 and has reached to 2 million 541 thousand persons in Turkey. Unemployment rate realized as 9,1% without any change. Non-agricultural unemployment rate was realized as 11,4% with 0,2 percentage points decrease and Youth unemployment rate was realized as 18,1% with 0,7 percentage points increase.
Friday December 28 2012
Turkey Posts Trade Deficit in November  
According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in November 2012; exports increased by 24.8% and reached to $13.83 billion and imports increased by 12.5% and reached to $20.99 billion compared with November 2011. At the same month, foreign trade deficit decreased from $7.57 billion to $7.16 billion.
Tuesday December 18 2012
Turkey Interest Rate at 5.5% in December  
The Central Bank of Turkey decided to cut its benchmark interest rate by 0.25 percentage points to 5.5% in December 2012.
Monday December 17 2012
Turkey Unemployment Rate Up to 9.1% in September  
In September, the number of unemployed persons increased by 141 000 compared to the same period of the previous year and has reached to 2.54 million persons in Turkey.
Friday December 14 2012
Turkey Trade Deficit Narrows in October  
According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in October 2012; exports increased by 11.6% and reached to $13.29 billion while imports decreased by 5.6% and reached to $18.80 billion when compared with October 2011.
Friday December 14 2012
Turkey Interest Rate Unchanged in November  
The Monetary Policy Committee decided to keep the policy rate unchanged at 5.75 percent in November of 2012.
Friday December 14 2012
Turkey Inflation Rate at 6.37% in November  
The Turkish National Statistics Office reported a rise in the Consumer Price Index on month-to-month basis by 0.38%, on December of the previous year by 5.76%, on same month of the previous year by 6.37%, on the twelve months moving averages basis by 9,26%.
Friday December 14 2012
Turkey Unemployment Rate Down to 8.8 in August  
Number of unemployed persons decreased by 76 thousand units compared to the same period of the previous year and has reached 2.45 million persons in Turkey.
Friday December 14 2012
Turkish Growth Slows Down to 0.2% in Q3  
According to a release by the National Statistics Office, the Gross Domestic Product in the third quarter of 2012 expanded 0.2% when compared to the previous quarter.
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