MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Central Bank Raises RRR on Shorter Maturity FX-Linked Deposit Accounts

TURKEY
  • The central bank has raised the reserve requirement ratio for FX-linked deposits maturing in up to 6 months to 25% from 15%, according to a decree published in the Official Gazette. Separately, it lowered the reserve requirement ratio for FX-linked deposits that mature in more than 6 months to 5%. Ekonomi say that with the new regulation, approximately TRY300bln of liquidity is expected to be withdrawn from the system.
  • The interest rate gap between regular TRY deposit accounts and FX-protected TRY deposit accounts is gradually widening, Sozcu report. While the interest rate for regular TRY deposits is between 33-39%, this rate is 45% for TRY converted KKM accounts and exceeds 50% for foreign currency converted KKM accounts.
  • In the first week of September, spending made with credit and debit cards increased by 51% in real terms on an annual basis, reaching TRY191.1bln, Ekonomi report.
  • There are no major data releases on the docket today.
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