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Simsek Reaffirms Commitment to Fighting Inflation

TURKEY
  • The government’s priority is to fight inflation, Treasury and Finance Minister Simsek said as per Hurriyet, noting that revenue and expenditure policies that would restore fiscal discipline are being implemented. Tight monetary policy, selective credit and quantitative tightening steps were put into effect to achieve disinflation, he said in a speech to international investors and CEOs.
  • According to the median estimate of a Reuters poll of 20 economists, the CBRT will raise the policy rate to 35% from 30% on Thursday. Our full preview of the decision will be released this afternoon.
  • Foreign Minister Fidan visits the United Arab Emirates to discuss issues including the Israel-Hamas war. There are no notable data releases on the docket today.

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