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Economic Confidence Rises in September; CBRT Sept Meeting Summary to Be Released

TURKEY
  • Turkey's economic confidence rose to 95.4 in September from 94.14 in August, according to the Turkish Statistical Institute.
  • Signs of tight monetary policy are being seen in loan growth figures, Ekonomi report. Citing central bank data, 13-week annualised average commercial loan growth, adjusted for the exchange rate, rose to double digits after 10 weeks. Consumer loan growth stalled in state-run banks and remained below 20% in the overall sector.
  • The central bank will publish a summary of the September 21 rates decision at 1200BST/1400 local time and will also release weekly portfolio capital flows data at 1230BST/1430 local. Looking ahead, trade balance data is on the docket tomorrow morning (Est: -$8.90bln; Prior: -$12.22bln).

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