A 50 bps rate cut from Central Bank of Turkey

A 50 bps rate cut from Central Bank of Turkey

Central Bank of Turkey cut marginal funding rate by 50 bps to 9.5%

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Unemployment rate fell by 0.3 percentage point to 10.9% in the period of February 2016

Unemployment rate fell by 0.3 percentage point to 10.9% in the period of February 2016

In the period of February 2016 non-agricultural unemployment rate realized as 12.7% with 0.5 percentage point decrease

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Automotive production increased by 3% in Jan-Apr 2016

Automotive production increased by 3% in Jan-Apr 2016

Total production and automobile production increased by 3% and 6% respectively in Jan-Apr 2016 compared to the same period of previous year

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12-month rolling current account deficit fell to USD 29.5 billion in March 2016

12-month rolling current account deficit fell to USD 29.5 billion in March 2016

The current account deficit recorded USD 3,677 million indicating a decrease of USD 1,092 million compared to March of the previous year

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Seasonally and calendar adjusted industrial production decreased by 0.5% m/m in March 2016

Seasonally and calendar adjusted industrial production decreased by 0.5% m/m in March 2016

Calendar adjusted industrial production increased by 2.9% y/y in March 2016

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CPI and domestic PPI increased by 0.78% and 0.52% respectively in April 2016

CPI and domestic PPI increased by 0.78% and 0.52% respectively in April 2016

Consumer prices increased by 6.57% y/y while domestic producer prices figured as 2.87% y/y in April 2016

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Manufacturing PMI falls to seven-month low of 48.9 in April

Manufacturing PMI falls to seven-month low of 48.9 in April

Turkish manufacturing business conditions continue to deteriorate in April 2016

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Exports increased by 2.3% while imports decreased by 5.2% in March 2016

Exports increased by 2.3% while imports decreased by 5.2% in March 2016

Exports to the European Union (EU-28) increased by 18.1%

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CBT believes that the need for a wider interest rate corridor diminishes

CBT believes that the need for a wider interest rate corridor diminishes

Turkey’s new Central Bank governor Murat Çetinkaya signaled the continuation of narrowing the interest rate corridor

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Confidence increased in construction sector but fell in both services and retail trade sectors in April 2016

Confidence increased in construction sector but fell in both services and retail trade sectors in April 2016

Confidence indices decreased by 3.8% in services and 5.9% in retail trade sectors, increased by 0.1% in construction sector in April 2016

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Consumer confidence index increased by 2.2% m/m in April 2016

Consumer confidence index increased by 2.2% m/m in April 2016

The consumer confidence index increased by 2.2% m/m to 68.46 in April 2016

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Central Bank of Turkey reduced Marginal Funding Rate by 50 bps to 10%

Central Bank of Turkey reduced Marginal Funding Rate by 50 bps to 10%

CBT reduced Marginal Funding Rate by 50 bps to 10% while kept its 1-week policy repo rate unchanged at 7.5%

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Unemployment rate realized as 11.1% in January 2016

Unemployment rate realized as 11.1% in January 2016

Unemployment rate realized as 11.1% while non-agricultural unemployment rate realized as 13% in the period of January 2016

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Foreign trade indices increased in volume, decreased in unit value in February 2016

Foreign trade indices increased in volume, decreased in unit value in February 2016

Export and import volume indices increased by 10.9% and 9.7% but unit value indices fell by 8.6% and 16.2%

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Industrial turnover index increased by 3.8% in February 2016

Industrial turnover index increased by 3.8% in February 2016

Seasonally and calendar adjusted total industrial turnover index increased by 3.8% in February 2016 compared with the previous month

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12-month rolling current account deficit decreased to USD 30,511 million in February 2016

12-month rolling current account deficit decreased to USD 30,511 million in February 2016

The current account deficit recorded USD 1,785 million in February 2016 bringing the 12-month rolling deficit to USD 30,511 million

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Industrial production increased by 0.5% in February 2016

Industrial production increased by 0.5% in February 2016

Seasonally and calendar adjusted industrial production increased by 0.5% in February 2016 compared with the previous month

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ODD: Turkish passenger car and light commercial vehicle total market showed a decrease of 3% in 1Q16

ODD: Turkish passenger car and light commercial vehicle total market showed a decrease of 3% in 1Q16

Turkish passenger car and light commercial vehicle total market decreased by 2.75% to 168,486 in 1Q16 compared to 4Q15

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CPI decreased by 0.04% and domestic PPI increased by 0.40% in March 2016

CPI decreased by 0.04% and domestic PPI increased by 0.40% in March 2016

Consumer price index fell to 7.46% y/y and domestic producer price index fell to 3.80% y/y in March 2016

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Exports increased by 1.4% and imports decreased by 8.1% in February 2016

Exports increased by 1.4% and imports decreased by 8.1% in February 2016

Exports were 12.4 billion dollars with a 1.4% increase and imports were 15.6 billion dollars with a 8.1% decrease compared with February 2015

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