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Erdogan to Address Lawmakers as Markets Await Further Spending Pledges

TURKEY
  • Dunya cite banking sources in reporting on the Liraization move to raise the securities ratio for FX deposits to 5% from 3%, writing that the move will prompt banks to have to hold TRY 88bln more in Turkish bonds over the next three months.
  • The CBRT are expected to cut rates by a further 100bps at this Thursday’s decision, inline with Erdogan’s pledge to get rates to single digits by year-end. Full MNI Preview including summary of sell-side views here: https://roar-assets-auto.rbl.ms/documents/19600/MN...
  • President Erdogan is to address lawmakers later today at midday local time (1000BST), with opposition CHP leader Kilicdaroglu to speak two hours later. Erdogan’s comments will be watched for any further details on the party’s spending plans, which are expected to accelerate ahead of next year’s general election.

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