MNI: US TSY: LOWERS Q3 BORROWING ESTIMATE BY $106B TO $740B

MNI BRIEF: US Treasury Lowers Q3 Borrowing Estimate By $106B

MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Central Bank Introduce Measures Aimed at Curbing Gold Demand

TURKEY
  • Bloomberg report that the central bank is taking aim at high demand for gold among households and is also looking to discourage cash withdrawals using credit cards, according to a document seen by Bloomberg. Under regulations that go into effect on Tuesday, and the first since the Sunday elections, banks are now required to buy an amount of government bonds equivalent to 30% of clients’ purchases of gold or jewelry made using credit cards whose limit is above TRY50,000.
  • EBRD cut Turkey’s 2023 GDP growth estimate to 2.5% from 3%, reflecting the impact of the February earthquakes, as well as expected credit tightening “due to the need to address the country’s external imbalances in the second half of year.”
  • Turkey’s home sales fell 35.6% y/y to 85,652 units in April, according to data from the Turkish Statistical Institute, the biggest drop since July 2021. Homes bought by foreign nationals fell 60.3% y/y to the lowest level since May 2021.
  • The private sector’s total outstanding loans received from abroad fell by $1.2b from end-2022 to $158b as of March, according to central bank data. Outstanding long-term loans received from abroad by the private sector stand at $149b, down by $1.7b from end-2022.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.