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CBRT Sees TRY Savings Shift "Inline" With Targets

TURKEY
  • Following reports that the CBRT met with banking executives yesterday, a statement from the banking association has confirmed that they discussed the reduction of FX-linked TRY deposits, with CBRT governor Erkan saying that movement to more savings in TRY is "inline with targets", with foreign inflows and domestic preferences both shifting.
  • On inflation, Erkan was cited as saying that disinflation will be aligned with the CBRT path presented in the latest forecast round.
  • The President heads to Greece today, for a visit in which the media have said will focus on restarting relations and opening a 'new chapter' between the two countries. The cash budget balance data is set for release later today, at 1430GMT/0930ET.

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