June 15, 2022 06:45 GMT
- Dunya reports that the government’s plans to use rediscount loans to encourage Liraization will prove difficult for sectors with high foreign exchange inflows, flagging that measures could also risk slowing down exports. The chemicals sector is used as an example in which companies have a high import dependency ratio – encouraging more FX trading among these firms will introduce extra costs for firms.
- An envoy to Russian President Putin has said Turkey’s planned incursions into Northern Syria risk more escalated tensions in the area, according to ITAR-TASS.
- ENAG – an Istanbul-based economic research group – write that the government’s currency-protected deposits scheme has added pressure to the Turkish treasury and has caused further increases in inflation. The group also flagged the shrinking size of the Turkish middle class, concluding that “Faulty monetary policy decisions continue to further disrupt expectations”.
- New home sales data at 0800BST/0300ET and central government budget balance data at 0900BST/0400ET are the highlights of the session ahead.