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CBRT Reaffirm Policy Goals for Next Year

TURKEY
  • Series of confirmations from the Turkish central bank as part of their monpol text for 2024 released this morning: Retains 5% inflation target, with an uncertainty band of 2ppts, Keeps the meeting cycle at one per calendar month, Reaffirms their fundamental target of price stability and states they are to continue QT as well as their strategy to build FX reserves. Full text here: https://www.tcmb.gov.tr/wps/wcm/connect/bdc8cd52-2...
  • Trade data for November crossed this morning, showing imports dropping 5.7%, while exports rose 5.2% on the year. This left the deficit broadly inline with expectations at $5.918bln.
  • Dunya write that business are expecting governmental support after the minimum wage hike detailed by the cabinet earlier in the month. The piece writes that competitiveness support will be needed after the policy changes.
  • No key data due for the rest of the session/year - with focus turning to the CPI release due next week, with CPI expected to rise to 64.90% from 61.98% in November in data due Wednesday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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