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Erdogan’s AKP Dips Behind CHP in Latest Polling

TURKEY
  • On the government’s FX-protected deposit scheme, Dunya report that 14% of total July tax revenues have gone to servicing the costs of the accounts.
  • In the latest polling conducted for Cumhuriyet, polling shows Erdogan’s AKP behind the opposition CHP party if an election was held this week. CHP are currently polling at 28.5% against the AKP’s 28.1%.
  • Dunya report that the interest on commercial TRY loans has returned towards the June level of 24.91%. This follows the extended series of macroprudential measures over the past few months, which led to a rise in the commercial loan rate to 31.33%. Rates applied by banks for TL deposits in the week of Aug 5 decreased by 29 basis points compared to the previous week to 17.35%, while the dollar deposit rate decreased by 6 basis points to 2.48%.
  • Y/Y home sales fell by 12.9% in July, with total sales dropping to 93,900 on the month.

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