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TURKEY: Erdogan Seeks April Trump Meeting; Simek, Bessent Discuss Cooperation

TURKEY
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  • Turkish President Recep Tayyip Erdogan is working to secure a meeting with Donald Trump at the White House, possibly toward the end of April, Bloomberg report citing Turkish officials familiar with the matter. The piece adds that Erdogan sees the strengthening of a strategic partnership between Ankara and Washington as critical for regional stability, while the role of the country as NATO linchpin is particularly important while the US reviews its commitment to Europe.
  • According to Anadolu Agency, Turkish Treasury & Finance Minister Mehmet Simsek spoke with US counterpart Scott Bessent on the phone late Monday, where the two discussed deepening US-Turkey economic cooperation. Simsek and Bessent are expected to meet at IMF-World Bank Spring Summit in April.
  • Hurriyet note that the decline in TRY deposit rates – by 8ppts across 1-3 month terms – has exceeded the fall in the central bank’s one-week repo rate over the past 3 months (down 7.5ppts from December).
  • Turkey's house price index rose 31.3% y/y in February versus +32.0% in January, according to data from the CBRT. On a month-on-month basis, the index rose 2.8% compared to +4.7% prior.
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  • Turkish President Recep Tayyip Erdogan is working to secure a meeting with Donald Trump at the White House, possibly toward the end of April, Bloomberg report citing Turkish officials familiar with the matter. The piece adds that Erdogan sees the strengthening of a strategic partnership between Ankara and Washington as critical for regional stability, while the role of the country as NATO linchpin is particularly important while the US reviews its commitment to Europe.
  • According to Anadolu Agency, Turkish Treasury & Finance Minister Mehmet Simsek spoke with US counterpart Scott Bessent on the phone late Monday, where the two discussed deepening US-Turkey economic cooperation. Simsek and Bessent are expected to meet at IMF-World Bank Spring Summit in April.
  • Hurriyet note that the decline in TRY deposit rates – by 8ppts across 1-3 month terms – has exceeded the fall in the central bank’s one-week repo rate over the past 3 months (down 7.5ppts from December).
  • Turkey's house price index rose 31.3% y/y in February versus +32.0% in January, according to data from the CBRT. On a month-on-month basis, the index rose 2.8% compared to +4.7% prior.