The Istanbul stock market has reached an 11-month high and bond yields are at a historic low of 1.05% after the Central Bank hinted at more interest rate cuts, writes Sujata Rao for Forbes. Five-year yields are down to 0.6%.
Turkey’s economy is likely to contract 5.2% in 2009, reports China View. GDP dropped 8.4% in the second quarter after falling 13.8% in the first quarter. In the fourth quarter, GDP will likely grow at an annual rate of 3.7%. Inflation could reach 5.5% at the end of the year.
- iShares MSCI Turkey Invest Mkt Index (TUR): up 58.6% year-to-date
For more information on Turkey, visit our Turkey category.
Max Chen contributed to this article.
