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The Central Bank of the Republic of Turkey (CBRT) says its monetary stance is shaped to leave a “reasonable” real rate. Its key rate presently stands at 14%, thus held against November inflation, the real rate stands at 3.44%, still one of the highest rates compared to Turkey’s emerging market peers.
A Reuters poll had forecast monthly inflation at 0.7% and annual inflation at 11%.
4.2.2 PPI dynamics
The producer price index (PPI), meanwhile, declined 0.08% m/m in November for an annual rise of 4.26%.
4.3 Industrial sectors and trade 4.3.1 PMI Production dynamics
Turkey’s manufacturing PMI remains in contraction territory in November. The November survey results showed PMI rose to 49.5 in November from 49.0 in October, nearing the 50.0 no-change mark.
“Based on the relationship between the PMI and official industrial production
29 TURKEY Country Report December 2019 www.intellinews.com
