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Local Press Focusing on Sharp Slowdown in Industrial Production

TURKEY
  • Dunya write that the slowdown across industry has become more pronounced in recent months, with all calculations and indices revealing that the slowdown in industrial production has become particularly evident in Q3 this year.
  • The piece also flags that interest rate cuts have allowed inflation to remain in the background and “almost wiped out everything”.
  • Mortgage rates have risen to the highest level in 40 months despite low interest rate policy at the CBRT. This contrasts with the commercial loan rate, which has slipped to the lowest level in 2 years.
  • Budget balance data for October showed the deficit widening to $83.3bln from $78.6bln.
  • A number of speeches are due from opposition party members today after the six leaders met yesterday. The opposition are discussing a possible alliance headed into 2023’s elections and focus will be on a speech from CHP’s Kilicdaroglu – the presumed nominee for opposition leadership.
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