Free Trial

Kavcioglu Speaks Following Inflation Forecast Upgrade

TURKEY
  • Relatively light in terms of overnight newsflow, although a number of local papers take note of the move in USD/TRY toward 18.00 following the CBRT’s inflation projection upgrade yesterday. Elsewhere, Dunya write that the investment outlook for gold has improved, highlighting that one ounce of gold could rise to TRY 1040/oz.
  • Trade balance data out this morning showed imports and exports rising by 39.7% and 18.7% respectively, putting the overall trade balance at a deficit of $8.167bln, broadly inline with expectations.
  • Following the CBRT’s quarterly inflation update yesterday, CBRT governor Kavcioglu is to appear at Istanbul’s Chamber of Industry meeting. The Turkish Treasury also release their funding plans for the August – October quarter at 5pm local time. Lastly, foreign minister Cavusoglu holds a joint press conference with his German counterpart.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.