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TURKEY

LOCAL NEWS

  • Turkey fines firms for food price hikes following Erdogan's commitment to rein in food price inflation.
  • Tukey's trade ministry has fined 120 companies a total of TRY 3.6m in the last week for charging above-average prices and others received fines for hoarding goods.
  • Erdogan said an investigation into high prices of staples was underway. Trade Ministry has said its inspections would not undermine free market principles - Ahval
  • Agbal to deliver 2021's first inflation report (07:30GMT), providing an opportunity to ease fears that he will cut rates earlier than is warranted - prior target was 9.4% for 2021.
  • Ex CBRT head Kara says if the central bank does not change its target, that signals a tighter policy stance in line with recent hawkish comms, however, an expectations survey sees end-2021 inflation above the CBRT forecast closer to 11.15%
  • 1130GMT FX reserves
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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