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Commercial Loan Rates Continue to Increase; Putin, Erdogan May Meet Soon

TURKEY
  • The upward trend in loan rates has continued following the most recent steps taken by the central bank, Ekonomi report. They say that commercial loan rates increased to 30.8% in the week of August 4, more than doubling since the week of June 2.
  • Turkey intensified talks with Ukraine, the United States, and the European Union on the grain deal in preparation for a possible meeting between Turkish and Russian Presidents Erdogan and Putin, a diplomatic source told TASS.
  • Milliyet newspaper have reported that Putin will visit Turkey "in the coming days." Meanwhile, according to A Haber TV channel, if Putin does not visit the country, Erdogan will travel to Russia instead.
  • There are no economic releases scheduled for today. Budget balance data and 12-month inflation expectations are the highlights later in the week.

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