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Erdogan, Nebati Both Due to Make Appearances

TURKEY
  • A number of speeches are worth watching later today, with Erdogan appearing in Istanbul at 11am local time (0900BST/0400ET) as well as an energy conference later in the day at 3.30pm local time (1330BST/0830ET). The finance minister also speaks at a Halkbank event, due at 11:15am local (0915BST/0415ET).
  • The former economy czar under Erdogan, Ali Babacan – who is now leader of the opposition party Democracy and Progress has claimed Turkey is on the verge of bankruptcy, pointing to the default risk in Turkey and deteriorating credit rating. Babacan was the Turkish economy minister between 2002 – 2015.
  • The CBRT today release the Markets Participants Survey is due, within which we see the June inflation expectations indicator (33.28% last). The data is due at 0800BST/0300ET.

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