Just after the results of the Brazilian presidential elections were made public a few days ago, giving current President Dilma Rouseff of the leftist Workers Party a small margin of victory over her opponent Aécio Neves, the British weekly magazine The Economist did what it always does, and came up with one of their worst ever statements.
The decision in the past few weeks of Governor of the Bank of England Mark Carney to revise his 'forward guidance' on interest rates has been portrayed as an embarrassing about-turn by some. Others, including Mr Carney himself, have quite plausibly argued that his approach has managed expectations effectively. Thus far the markets, the media and politicians seem inclined to believe him.
Recent economic indicators suggest that at least some of the risks to the Turkish economy that built up in 2010-11 have started to ease. Although this improvement may be partly due to external developments outside of the control of the Justice and Development Party (AKP) government, much of the rebalancing process has been policy-induced.