Economy

Ghost Dog

(16,881 posts)

36. Turkish Economy Booms

Mon Dec 12, 2011, 11:06 AM

Dec 2011

ISTANBUL—Turkey's central bank governor warned Monday that inflation was now his No.1 problem as data confirmed the economy expanded 8.2% in the third quarter, smashing economists' expectations and underscoring its reputation as Eurasia's rising tiger.

Monday's official growth figure, compared with the same period a year earlier, dramatically exceeded market forecasts of a 6.6% gain and followed an 8.8% expansion in the second quarter...

... The Bank has since moved to raise other interest rates as it battles rampant credit growth. Its growing concern over inflation—which rose sharply in recent months, driven by the Turkish Lira's 30% fall against the dollar—stands in contrast to the stance of many emerging markets, which have begun cutting interest rates to spur growth amid concerns over the deteriorating global outlook.

Speaking to reporters in London following the publication of the economic growth figures, Governor Erdem Basci said that inflation, which rose at its fastest pace for one and half years in November to hit an annual rate of 9.5%, was now the "number one problem" for the Turkish economy and that Ankara was ready to tighten policy further "if necessary." At the same time, he said he was confident the bank's decision in November to effectively double the overnight borrowing rate for commercial banks to 12.5% would be enough to combat the pressure.

/... http://online.wsj.com/article/SB10001424052970203518404577094140339214150.html

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

119 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH, Monday, December 12, 2011 [View all] Hugin Dec 2011 OP

Good test run. You comfortable doing this???? dixiegrrrrl Dec 2011 #1

Me? Hugin Dec 2011 #3

I think it belongs in LBN for the same reason that even NPR updates Market numbers all day bread_and_roses Dec 2011 #23

Yes. n/t Ghost Dog Dec 2011 #37

Yes it does. The move isolates and marginalizes. zogofzorkon Dec 2011 #58

agreed Roland99 Dec 2011 #78

Quite a few members have alerady stated they like having it here..but... dixiegrrrrl Dec 2011 #63

It will certainly be effective in limiting spotbird Dec 2011 #112

About one half the average number of views today. n/t Tansy_Gold Dec 2011 #114

Damn, took me 2 days to find this :S nc4bo Dec 2011 #118

But we are glad you did Tansy_Gold Dec 2011 #119

First rec! hamerfan Dec 2011 #2

First DU3 recce, too! Hugin Dec 2011 #4

I hope so too CatholicEdHead Dec 2011 #8

Looks great! Ruby the Liberal Dec 2011 #5

Rec#4 DemReadingDU Dec 2011 #6

Testing charts Ghost Dog Dec 2011 #7

Looks great! westerebus Dec 2011 #10

So glad you got the charts back up! dixiegrrrrl Dec 2011 #49

thanks westerebus Dec 2011 #9

Wow, this is like back to the future. It's already Monday somewhere, I guess - LOL! InkAddict Dec 2011 #11

Thank you for your wisdom, IA. Hugin Dec 2011 #12

Thank you, thank you, thank you, thank you all . . . amandabeech Dec 2011 #13

I'm glad we've got a spot, anyway. Fuddnik Dec 2011 #14

"All I ask is a stout Tub and a star to sail her by." Hugin Dec 2011 #15

Make sure that tub ain't the one Buffett bathed in. Po_d Mainiac Dec 2011 #28

Don't you mean Norquist, as in drown a government in? Demeter Dec 2011 #60

Lol..I was thinking of Pres. Taft's tub. dixiegrrrrl Dec 2011 #65

Buffett is Buffett Po_d Mainiac Dec 2011 #69

Thanks so much for all of the recces, everyone. Hugin Dec 2011 #16

I will not be reccing. . . . . . . .anything. Tansy_Gold Dec 2011 #24

Tansy, I want to address your concerns. dixiegrrrrl Dec 2011 #48

I just want to make sure that everyone understands Tansy_Gold Dec 2011 #68

The ignore feature is being programmed, will be here shortly. dixiegrrrrl Dec 2011 #70

Good luck with all that, but... Loge23 Dec 2011 #85

Thank you, Loge23, and you are not entirely incorrect Tansy_Gold Dec 2011 #91

Perhaps lobbying the rotating honchos at LBN and/or Admin could recover SMW posting rights there, Ghost Dog Dec 2011 #98

I did not want to ignore your thread. dixiegrrrrl Dec 2011 #92

Once again, the SMW thread that was posted and locked was NOT a current SMW OP Tansy_Gold Dec 2011 #97

Now I gotcha. dixiegrrrrl Dec 2011 #99

Yes. Very revealing design-choices have been taken Ghost Dog Dec 2011 #79

If you're going to be running around the house nekkid Fuddnik Dec 2011 #50

. Tansy_Gold Dec 2011 #81

How do you rec now? spotbird Dec 2011 #113

Egypt's economy worsens Ghost Dog Dec 2011 #17

Why Egypt's Economy Matters xchrom Dec 2011 #51

Wow...what a cool link. dixiegrrrrl Dec 2011 #66

You'll find lots of such sites at this news aggregator: Ghost Dog Dec 2011 #80

European stocks back under pressure after summit Ghost Dog Dec 2011 #18

Today's Report Pale Blue Dot Dec 2011 #19

Oil falls below $99 ahead of OPEC meeting Pale Blue Dot Dec 2011 #20

U.S. Stock-Index Futures Drop as Germany Opposes Further ECB Bond Buying Pale Blue Dot Dec 2011 #21

NYSE Technical Glitch Affects Bank of America, IBM, More. Po_d Mainiac Dec 2011 #31

Does that tie in with today's downside? Demeter Dec 2011 #61

Thank you, Hugin, for starting this thread Pale Blue Dot Dec 2011 #22

Well, I found you all Demeter Dec 2011 #25

Did you switch over to classic mode in "your account" tab? dixiegrrrrl Dec 2011 #67

Still Ugly, but at least it covers the screen Demeter Dec 2011 #101

No worries, I am not taking it personally. dixiegrrrrl Dec 2011 #104

Thank you all for your tenacity to make SMW work Mira Dec 2011 #26

Europe�s Deadly Transition From Social Democracy to Oligarchy MICHAEL HUDSON Demeter Dec 2011 #27

Thank you for posting this, I had it book marked to post and forgot to! dixiegrrrrl Dec 2011 #74

Morning everybody. Thank you Hugin. n/t Hotler Dec 2011 #29

Would someone one please be so kind westerebus Dec 2011 #30

I did n/t Tansy_Gold Dec 2011 #38

He's busy fomenting revolution on LBN. Fuddnik Dec 2011 #52

Yay! I found you! Viva_La_Revolution Dec 2011 #32

Yay, I found you ! Mojorabbit Dec 2011 #33

Pakistan trade deficit widens Mojorabbit Dec 2011 #34

Change is opportunity Loge23 Dec 2011 #35

Turkish Economy Booms Ghost Dog Dec 2011 #36

good morning -- thanks miss tansy xchrom Dec 2011 #39

Corporate panic doesn't bode well for earnings xchrom Dec 2011 #40

I don't seem to be able to find the rec button. Roland99 Dec 2011 #41

If you already hit the rec button yesterday, when the thread started, Fuddnik Dec 2011 #42

oh I see it. It's with the other junk (twitter, facebook, etc.) Roland99 Dec 2011 #47

Someone had a thread on this the other day Ruby the Liberal Dec 2011 #108

south asia: Sensex slides to 2-week closing low; RIL leads losses xchrom Dec 2011 #43

Government, industry to discuss growth slump xchrom Dec 2011 #45

Gold falls to 3-week lows as crisis boosts dollar xchrom Dec 2011 #44

Economists forecast deeper UK recession Ghost Dog Dec 2011 #46

Just in case...... Fuddnik Dec 2011 #53

Next time you disappear.... AnneD Dec 2011 #84

Michael Valentine Smith would be a good nom de guerre Demeter Dec 2011 #102

europe: Spain tops the European table for number of overqualified workers xchrom Dec 2011 #54

The End of Old Europe Why Merkel's Triumph Will Come at a High Price xchrom Dec 2011 #56

Fascinating power play going on over there. dixiegrrrrl Dec 2011 #75

There is a lot of deja vu going on, and to different periods of modern European history. amandabeech Dec 2011 #87

or, rather, the people BEHIND the politicians. dixiegrrrrl Dec 2011 #94

Certainly one must consider that. amandabeech Dec 2011 #106

The Crisis Has Reached a Systemic Level' xchrom Dec 2011 #57

Britain � like the Cayman Islands, in the rain xchrom Dec 2011 #55

At least I could kiss a stingray in the Caymans. Fuddnik Dec 2011 #64

-239 at Noon Demeter Dec 2011 #59

How long can it LURCH back and forth like this before it really crashes? PassingFair Dec 2011 #62

A little Queen in the late morning is good to hear. dixiegrrrrl Dec 2011 #76

I think it's cool the way... PassingFair Dec 2011 #77

That remains to be seen Demeter Dec 2011 #109

Woo Hoo! Thanks "Hugin" it great to see this back! KoKo Dec 2011 #71

Hey, KoKo! Hugin Dec 2011 #72

Of course we don't need financial industry regulation!!!! Roland99 Dec 2011 #73

Well, perhaps here is a market opening for a firm actually contractually committing itself to not amandabeech Dec 2011 #88

AnneD checking in...... AnneD Dec 2011 #82

Hey there, AnneD. Hugin Dec 2011 #83

Great... AnneD Dec 2011 #86

Dyslexics of the world, UNTIE!!!!! Fuddnik Dec 2011 #89

So long as you remember how to segue without a Segway, AnneD Ghost Dog Dec 2011 #90

Your browser should have spell check , no? dixiegrrrrl Dec 2011 #96

You bet your sweet bippy! Demeter Dec 2011 #103

I found it! tclambert Dec 2011 #93

Glad you made it...... AnneD Dec 2011 #117

U.S. Stocks Fall on Rating Comments Ghost Dog Dec 2011 #95

Euro Summit Failure Underscores Need for Sovereign Default Ghost Dog Dec 2011 #100

So the banksters only solution is to keep building TARPS, dixiegrrrrl Dec 2011 #105

Yeah, really cool, huh? Just look at the commissions and bonuses! Ghost Dog Dec 2011 #107

Mr. 12K RUMMYisFROSTED Dec 2011 #110

why is it dated May 16th?? n/t NMDemDist2 Dec 2011 #111

Because I was editing the template. n/t Hugin Dec 2011 #115

Want to make sure you saw this: snot Dec 2011 #116