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TRY Deposit Rates Seen Rising to New Highs Ahead of March Elections

TURKEY
  • Dunya cite the CEO of Isbank in reporting that the composition of TRY deposits in the country is set to change, predicting that deposit rates will peak at 50-55% before the local elections set for the end of March next year.
  • Elsewhere, the paper cites Yilmaz as talking down the prospect winding up the KKM program “suddenly”. Yilmaz further defended the program as a “necessity” when it came into effect.
  • On consumer spending, Hurriyet report a 76% rise in the size of the average basket size this year, citing data compiled from payment platforms.
  • VP Yilmaz is set to appear again later today, chairing an Economy Coordination Board meeting at 1130am (0830GMT) local time. At 1pm (1000GMT), the parliamentary commission are set to debate a bill that covers a number of items pertinent to the economy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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