The exchange rates in Turkey are gradually increasing every day, which is hardly useful to exporters, given the circumstances. It is not possible to guess whether this "slow" rise in exchange rates will mitigate the inflationary effects.

Countries like Turkey, which desperately need raw materials, intermediate goods and investment goods to run their import activities, have no choice but to export high added value products. However, this is not a goal that could be achieved without making the necessary efforts. The Marshall–Lerner condition tells us that a country with high elasticity of export demand and low elasticity of import demand cannot easily become competitive and that exchange rate rises can be of limited help.

I have been reading all that is written and said about how the issue with Putin will develop and what it will develop into.

After the CBRT’s February decision, it was obvious that the markets would be able to shoulder yet another rate cut. The escalating tensions in Russia-Ukraine war, bank collapses and the fact that the inflation risk remains intact are of course wise reasons for keeping the interest rates unchanged. But the real reason, I could say, is the exchange rate movements.

You know how I feel about the Turkish Central Bank’s policies. Although I do not find their general policy scientifically correct, I admit that the CBRT made a practical decision today.

The affairs in Turkey are tremendously messy these days. On the one hand, we have the upcoming elections, on the other, our deteriorating economy. Of course, Turkey has its eyes also on the recent Sino-Russian rapprochement and Putin's fate.

Projecting that the inflation will remain too high for too long, the Governing Council of the ECB decided to hike rates by 50 bps last week, as anticipated, which shows that the European Central Banks maintains its determination to keep fighting against the inflation.

While the Fed is trying to bring the US banking crisis under control, things seem a little more complicated across the Atlantic.

The main problem in banking is thought to be risk management, whereas in fact it’s all about ethics and principles. In Turkey, we tend to focus on the side effects of the problem rather than the source of it, therefore we fail to find the right solution to deal with the problem.

For the last couple of years, in my articles, I’ve been trying to highlight a theory of mine: "If a financial crisis breaks out, developed countries will be the epicentre, not the developing ones", which I base it upon the following arguments:

The economic projections in the reports published by International Institutions about the upcoming Turkish elections are getting sharper.

Oftentimes, women living in countries where unfair economic conditions prevail have difficulty participating in the workforce. One of the most important factors causing women’s inability to contribute to the economy is high inflation. Let alone the fact that high inflation leads to moral decadence, it destroys everything that cherishes life and awareness while swelling the prices yet not increasing the value of life. It creates political and social corruption.

I guess we will no longer ask, "Why don't you go into politics?" to every person we subjectively see ‘fit’ to strive as a politician.