The whopping 5.7% y/y rise in Turkish GDP in Q4 was flattered by working day effects, but even taking this into account the economy remained extremely robust. The strong growth figures coming alongside mounting signs of an inflation problem make the central bank’s decision to cut interest rates last week even harder to justify.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.