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12-Month Inflation Expectations Fall to 30.44% From 34.92%

TURKEY
  • Turkish inflation expectation in the next 12 months fell to 30.44% from 34.92% the prior month, according to the central bank’s January monthly survey of market participants. Year-end inflation is estimated to be 32.46%, while USD/TRY is seen at 23.12 as of end-2023.
  • Treasury and Finance Minister Nebati unveiled details of TRY250b ($13b) in financing support to be provided to businesses under the Credit Guarantee Fund (KGF), Hurriyet report. The support will be given under 14 packages to a wide range of businesses, including manufacturing companies, women entrepreneurs, exporters, private schools and real estate firms.
  • President Erdogan speaks at an opening ceremony in Istanbul at 1100 GMT/1400 local time while Foreign Minister Cavusoglu holds a joint presser with his Italian counterpart Antonio Tajani in Ankara at 1230 GMT/1530 local time.

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