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Consumer and Commercial Loan Growth Rates Show Signs of Slowing Down

TURKEY
  • Consumer and commercial loan growth rates, which accelerated during the first week of 2024, started to show signs of slowing down at the end of January, Ekonomi report. The newspaper write that a sharp contraction in loan growth rates in the public sector – which reached its lowest level in over 2 years – was the primary contributor to the loss in momentum.
  • The Central Bank of Turkey’s Inflation Report, to be presented by newly appointed Governor Fatih Karahan tomorrow, is the key event of the week (07:30GMT/10:30 local time). Nevertheless, investors are widely expecting a continuation of the more orthodox monetary policy regime. The central bank’s next rate-setting meeting is on Feb 22.
  • Government budget balance data is the only notable economic release of the day. Industrial production figures will cross on Friday.

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