How was this week in 7 titles?

This week, in the middle of the most valuable topics of the week in the domestic markets, the CBRT’s interest rate decision and the enactment of the team offer to the contracted employee came to the fore. In global markets, this week, Davos Hill, Fed’s Beige Book and China’s growth…

1- CBRT kept the interest rate constant

The Central Bank of the Republic of Turkey (CBRT) kept the policy rate at 9 percent in the first meeting of the year, in line with market expectations. In the last meeting, the CBRT did not use the promise that the current policy rate, which was included in the resolution text, was sufficient. In the resolution text of the January meeting, the CBRT stated that improvements in inflation had begun to be seen.

2- Team offer to contract employee in public sector became law

The law proposal, which envisages giving teams to 458 thousand 615 contract employees working in the public sector, was accepted by the General Assembly of the Grand National Assembly of Turkey and became an article.

Before 28 November 2022, those who work as contract workers will be able to switch to the civil servant team. Those who want to switch to the civil servant team will apply within 30 days after the law comes into force.

3- Heads of economics spoke to Bloomberg HT in Davos

Many valuable names gave critical messages at Davos Peak, where the pulse of world economy and politics was beating. Bloomberg HT, which followed this effective arrangement on the spot, held interviews with the leaders of the economy during its peak.

4- Fed Beige Book: Companies are pessimistic about growth

According to the US Federal Reserve’s (Fed) Beige Book survey, which takes the pulse of the economy, US companies expect finite economic growth in the coming months.

In the report, which was prepared with analyzes from 12 branches of the bank, it was stated that the general economic activity has not changed since November.

In the report, which pointed out that “low growth” is expected in the economy in the coming months, it was stated that consumer spending increased slightly as some retailers made stronger sales during the holiday period.

5- Chinese economy grew by 3 percent in 2022

According to the data of China’s National Statistics Office (UIB), Gross Domestic Product (GDP) reached 121 trillion yuan (approximately 18 trillion dollars) in the January-December 2022 period, an increase of 3 percent compared to the previous year.

This was the lowest annual revenue increase recorded in China since 1976, following the 2.2 percent growth in 2020, when the first effects of the Kovid-19 outbreak were felt.

6-Inflation slowed in England, but remained in double digits

According to the information of the UK Statistics Office, annual inflation fell to 10.5 percent in December. Inflation was 10.7 percent in the previous month, and peaked at 11.1 percent in October. This slowdown signaled that the worst cost-of-living crisis in a long time was beginning to subside.

7- Inflation in Japan is at its peak in 41 years

In the country with the longest period of deflation in the world, prices rose to the highest level in 41 years. Consumer price growth in Japan jumped to a new threshold, reaching 4 percent year-on-year in December. Core inflation came in at 4%, in line with expectations. Processed food prices, which recorded the fastest price increase since 1976, and gas prices, which rose more than 20 percent, were influential in annual inflation.