CANADA JULY CPI +2.5% YOY, SLOWEST SINCE MARCH 2021

MNI China Daily Summary: Tuesday, Aug 20

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

MNI: US AUG PHILADELPHIA FED NONMFG INDEX -25.1

MNI: CANADA JUL CPI INFLATION +0.4% M/M, +2.5% YY

MNI: EUROZONE JUN CONSTRUCTION OUTPUT +1.7% M/M, +1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Erdogan Holds Unscheduled Meeting With CBRT, Treasury Officials

TURKEY
  • Late yesterday, Haberturk reported an unscheduled meeting took place in the Presidential palace between President Erdogan, the CBRT governor Kavcioglu and economy minister Nebati. No details were forthcoming, but comes alongside the persistent rise in prices and weakening of the TRY.
  • Ekrem Imamoglu, a leading official in the opposition CHP party, could be facing prison as a court considers the charges that he insulted Turkey’s election authority. A prison sentence would sideline one of Erdogan’s potential future contenders for the Presidency.
  • Dunya writes that the Aegean Chamber of Industry has called for a hike to minimum wages, stating that wage hikes made across the first five months of this year have ‘melted down’ and a new hike is required.
  • NTV reports that Turkey are to increase electricity prices by 25% for industries and businesses, while raising prices by 15% for households. The rise in gas prices is starker, which rises by 30% for households and 10% for industry.
  • Manufacturing PMI crosses at 0800BST/0300ET after April’s 49.2 print. Elsewhere, Istanbul releases May inflation data at midday local (1000BST/0500ET). Turkey’s Erdogan addresses lawmaker at the same time.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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