Levent Yılmaz All daily Yeni Şafak Columns

15.11.2024, Friday
10:36

Levent Yılmaz

133 columns listing

Russia sanctions, US warning to Türkiye, and double standards

25 May 2024, Saturday

Recently, I have been focusing more on developments in the Türkiye's economy, which has left me with little time to write about other political-economic topics. However, U.S. Treasury Secretary Janet Yellen’s recent comments provided an opportunity to delve into these issues once again. In her assessment of sanctions on Russia, Yellen highlighted that they are closely monitoring the situation and noted that the sanctions are most frequently breached by China, the United Arab Emirates, and Türkiye.

US inflation is making our job difficult!

12 April 2024, Friday

During the holiday week, while domestic markets are closed, the data flow from overseas markets, and even the recent inflation data released in the US, seem to be pregnant with results that will spoil our mood. The inflation data for March in the US, announced last Wednesday, exceeded expectations. According to the latest figures, inflation rose by 0.4% on a monthly basis and 3.5% on an annual basis. Expectations, according to polls, were that inflation would be 0.3% on a monthly basis and 3.4%

From mattresses to banks: Türkiye's quest to bring gold into the economy

01 October 2023, Sunday

After the meeting of the Economic Coordination Council (ECC) held last Thursday, one of the most notable topics discussed in the statement was the mobilization of gold held under the mattress into the economy. This issue is not new, as Türkiye has been debating it for many years. Steps have been taken numerous times, programs have been announced, and campaigns have been organized. However, the desired outcome has not been achieved, and there are very important reasons for this. In Türkiye, the habit

US growth rate, German inflation...

01 July 2023, Saturday

Amidst our focus on variables such as inflation, interest rates, and exchange rates, the developments overseas that will impact the currencies we closely monitor, namely the US Dollar and the Euro, do not bode well for us. Let's start by examining the United States. Federal Reserve Chair Jerome Powell, acknowledging that there is "no painless way" to combat inflation, refers to the slowing of the US economy without plunging into a recession, which could result in unemployment. Powell indicates that

Tracking central bank movements: Fed, ECB, and the upcoming TCMB meeting

18 June 2023, Sunday

This week, we closely followed the interest rate decisions and statements of two major central banks on the global front. The Federal Reserve (Fed) made the expected move in its interest rate decision but surprised with its projections. On the other hand, the European Central Bank (ECB) made a decision in line with expectations. On Wednesday evening, the Fed kept its policy rate unchanged, as it had prepared the ground with verbal guidance for some time. However, it raised its final interest rate

Expectations from Türkiye's new economic administration

15 June 2023, Thursday

Following the May 14 and 28 elections, President Erdogan, who was re-elected, announced his new cabinet for the upcoming term. In this new period, the president assigned the Ministry of Treasury and Finance to Mehmet Simsek, thus determining who will co-manage the economy. Subsequently, he appointed Hafize Gaye Erkan as the Central Bank Governor. With these appointments, the framework of economic governance is now in place. The next step is the implementation of the policy agenda. Mehmet Simsek

Economic dynamics in the context of elections: Pre and post-election analysis

01 June 2023, Thursday

Türkiye has completed its elections with a remarkably high turnout. Following the parliamentary arithmetic revealed on May 14, President Erdogan was re-elected with a 52.2% vote in the second round on May 28. The challenging economic conditions in Türkiye were evident in the pre-election period. The currency crisis in 2018, followed by the Covid-19 pandemic at the beginning of 2020, and the escalating global tensions due to the Russia-Ukraine War, have had significant negative impacts on the economy.

Tomorrow is Election Day!

13 May 2023, Saturday

Türkiye is heading to the polls tomorrow. Voters will be at the ballot box for the most critical election in recent history. all eyes are on the potential actions that may be taken in regards to the economy and foreign policy. While Türkiye has become a strong regional actor since 2002 and especially in the last decade, as a result of the policy pursued during the pandemic period and the Russia-Ukraine War, it has also taken on a decisive role in global issues. Despite the difficulties with the

Decoding the 'Soft Landing' scenario in US economy amid falling commodity prices

04 May 2023, Thursday

As we scramble to navigate the frenzy of upcoming elections, the global economy appears to be embroiled in a state of confusion. Core inflation in the Eurozone has fallen for the first time in 10 months, while the number of failing banks in the US has risen to three. The deceleration of bank loans in the US and the rate of interest hikes in Europe has resulted in a soft landing scenario being replaced by fears of a recession. So, what happens now? WHAT DOES THE DECLINE IN COMMODITY PRICES SIGNAL?

All eyes on Türkiye's Central Bank: Will it maintain the status quo before the elections?

27 April 2023, Thursday

Today, the Central Bank of Türkiye's Monetary Policy Committee (MPC) will announce its interest rate decision. Currently, the policy rate stands at 8.5%. The question on everyone's mind is: what will be the MPC's last decision before the upcoming elections? On February 23rd, the Central Bank lowered the policy rate by 50 basis points to 8.5%, and then kept it stable during the March 23rd meeting. During the meeting where the rate was lowered, the MPC stated that "the measured reduction in the policy