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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.
TURKEY
MNI (London)
TURKEY OCT CONSUMER CONFIDENCE 76.2; SEP 72.4
- Turkish consumer sentiment saw a 3.8-point improvement to 76.2 in October, edging back up towards October 2021 levels (76.8).
- The index remains deeply pessimistic and below the 100-point neutrality threshold. The last time the index actually crossed into optimistic territory was in 2006.
- All sub-indices pushed the index higher over the month, led by household financial condition outlooks and consumers' outlooks on the general economy over the next 12 months.
- Consumer confidence remains severely depressed. Consumers are grappling with soaring inflation above 83% and little relief in sight as the CBRT continues to implement an unorthodox approach to monetary policy.
- Yesterday saw the CBRT deliver a 150bps rate cut to 10.50%, against expectations of a 100bps cut as the President's call for single-digit rates by year-end is set to materialise.
Source: Turkish Statistical Institute
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.
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