Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
MNI (London)
TURKEY NOV CPI +2.88% M/M (FCST +3.00%); OCT +3.54% M/M
TURKEY NOV CPI +84.39% Y/Y (FCST +84.80%); OCT +85.51% Y/Y
TURKEY NOV CORE CPI +68.91% Y/Y (FCST +70.80%); OCT +70.45% Y/Y
- Turkish headline inflation inched down by 1.1pp to +84.39% y/y in November, whilst prices increased by a 0.6pp-slower rate of +2.88% m/m. This was slightly lower than forecast expectations and the first sign of cooling headline CPI since May '21.
- Base effects of high 2021 inflation prints (+21.31% y/y in Nov '21) coupled with relative stability in the lira in recent months will have largely accounted for the softer print.
- The CBRT cut rates by 150bps to 9.00% as largely anticipated in November, in a continuation of the Bank's unorthodox easing cycle following calls from President Erdogan for single-digit rates into year-end.
- The bank signalled an end to the current easing cycle, with growth-stimulating macroprudential measures to take focus going forward and a policy review due in December.
- This will likely remain the case through year-end and well into 2023 as market focus turns to the presidential elections in June, with the President likely looking for more market and financial stability as he launches his re-election bid in earnest.
Source: Turkstat
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok