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Erdogan to Meet with Biden May 9; Simsek Says Steps in Fiscal Policy to Support Disinflation

TURKEY
  • Turkish President Recep Tayyip Erdogan will meet with US President Joe Biden at the White House on May 9, Bloomberg report according to people familiar with the matter. Last weekend, Erdogan met with Hamas’s political leader to discuss a potential permanent cease-fire and accelerated humanitarian aid to Gaza.
  • Comments from Treasury and Finance Minister Simsek’s speech in Sapanca have been crossing the wires this morning. The minister said Turkey will take extra steps, especially in fiscal policy, to support disinflation, without elaborating further. He added that work on public sector savings is at a final stage and more will be shared on the matter soon.
  • Dunya report that record borrowing by the Treasury in the first ten months of the new government due to roll-over needs and financing of rapidly growing public deficits is “crowding out” private-sector borrowing.
  • President Erdogan will speak at event on Jerusalem at 12:30BST/14:30 local time before receiving Dutch PM Mark Rutte. Our review for yesterday’s CBRT rate decision, where the one-week repo rate was held at 50% in-line with consensus, will be released this afternoon.
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  • Turkish President Recep Tayyip Erdogan will meet with US President Joe Biden at the White House on May 9, Bloomberg report according to people familiar with the matter. Last weekend, Erdogan met with Hamas’s political leader to discuss a potential permanent cease-fire and accelerated humanitarian aid to Gaza.
  • Comments from Treasury and Finance Minister Simsek’s speech in Sapanca have been crossing the wires this morning. The minister said Turkey will take extra steps, especially in fiscal policy, to support disinflation, without elaborating further. He added that work on public sector savings is at a final stage and more will be shared on the matter soon.
  • Dunya report that record borrowing by the Treasury in the first ten months of the new government due to roll-over needs and financing of rapidly growing public deficits is “crowding out” private-sector borrowing.
  • President Erdogan will speak at event on Jerusalem at 12:30BST/14:30 local time before receiving Dutch PM Mark Rutte. Our review for yesterday’s CBRT rate decision, where the one-week repo rate was held at 50% in-line with consensus, will be released this afternoon.