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Chinese, Turkish Foreign Ministers Set to Meet

TURKEY
  • As part of the inflation-busting campaign following Erdogan’s re-election, Sabah writes that Landlords who increase rents “exorbitantly” will be subjected to fines and even imprisonment. Investigations and lawsuits will be launched against those landlords deemed as overly opportunistic and can be subject to prison time of 1- to 3-years.
  • Vice President Yilmaz is set to be chairing a meeting of the Economy Coordination Board in Ankara later today, while the newly installed Chinese foreign minister meets with both the Turkish foreign minister and President Erdogan.
  • The key release of the week comes tomorrow with the CBRT’s quarterly inflation report. Markets expect the bank to sharply revise higher their year-end inflation estimate – which follows tax rises as well as a considerably weaker currency.
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