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​12-Month Inflation Estimates Decline, Moody’s May Review Turkey Credit Rating

TURKEY
  • Turkey’s 12-month inflation estimate declined to 41.23% in December from 43.94% the month prior, according to central bank’s December survey of market participants. 24-month inflation estimates declined to 24.82% (Prior: 25.09%) while the year-end inflation estimate fell to 65.39% (Prior: 67.23%).
  • President Erdogan and US President Biden held a phone call and discussed a range of issues including Sweden’s NATO bid, according to readout from the Turkish Presidency. Other topics on the agenda included Turkey’s request to buy F-16 fighter jets from the US, bilateral ties and Israel’s attacks on Gaza.
  • Elsewhere, Turkey's budget moved to surplus TRY75.6b in November from -TRY95.5b in October, according to the Turkey Ministry of Treasury and Finance.
  • Moody’s Investors Service may make a statement on Turkey’s sovereign debt rating and outlook after markets close (current rating: B3; Outlook Stable).
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