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Consumer Confidence Reaches 7-Month High

TURKEY
  • Turkey's adjusted consumer confidence rose to 80.4 in January from 77.4 in December, according to the Turkish Statistical Institute. That is its highest level since June 2023.
  • Russian Foreign Minister Lavrov and his Turkish counterpart Fidan discussed joint projects in the energy sector and the schedule of upcoming bilateral contacts, the Russian Foreign Ministry said in a statement that was cited by Interfax. "Major issues of bilateral trade and economic cooperation were discussed in detail. [...] The parties also touched upon the implementation of key Russian-Turkish projects in the energy sector," the statement read.
  • Fidan is in New York today to attend the United Nations Security Council meeting on Gaza. Looking ahead, the CBRT rate decision is the highlight of the week on Thursday, where the unanimous consensus among sell-side is for the central bank to deliver another 250bp rate hike to the one-week repo rate. Our preview of that decision will be released later today.

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