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Consumer Confidence Reaches Highest Since July

TURKEY
  • Turkey's adjusted consumer confidence rose to 77.4 in December from 75.5 in November, according to the Turkish Statistical Institute. That marks the fourth consecutive increase and its highest level since July.
  • Turkey has shifted to being a net investor abroad, except in real estate, Ekonomi report. Outbound direct investments surpassed incoming ones in key sectors like textiles, accommodation, agriculture, and mining, the newspaper write.
  • Treasury & Finance Minister Mehmet Simsek was scheduled to start speaking at 1100GMT at parliament during a debate on the 2024 budget bill.
  • Attention turns to the CBRT rate decision tomorrow, where the benchmark one-week repo rate is widely expected to be raised by 250bps to 42.50%, marking a slowdown in pace from the 500bp moves in November, October and September and 750bps in August. See the full MNI preview, with a summary of sell-side analyst views, here.

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