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Consumer Confidence at Lowest Since June 2022

TURKEY
  • Turkey's adjusted consumer confidence fell to 68.0 in August from 80.1 in July, according to data released by the Turkish Statistical Institute. The index is now at its lowest level since June 2022.
  • Turkey and Iraq’s energy ministers discussed importance of restarting crude oil flows from Iraqi pipeline, Turkey’s energy ministry said in a post on social media. The pair “stated the importance of resuming crude oil flows through the Iraq-Turkey crude oil pipeline system as soon as possible following the completion of the necessary inspection activities that had to be carried out after the earthquakes.”
  • The results of the upcoming talks of Turkish Foreign Minister Fidan in Kiev and Moscow on the grain deal may serve as a basis for the resumption of the Black Sea grain corridor, a diplomatic source in Ankara told TASS. The top Turkish diplomat will visit Kiev on August 25. He will then visit Moscow; however, the dates of his visit are not disclosed.
  • The CBRT key rate decision is the highlight of the week tomorrow afternoon. Further tightening is likely, with the benchmark one-week repo rate expected to be raised by a further 250bps to 20.00%. See our full preview here: https://roar-assets-auto.rbl.ms/files/55426/MNICBR...

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