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TURKEY: 12-Month Inflation Estimate Falls, Year-End Estimate Creeps Higher

TURKEY
  • Turkey's next 12-month inflation estimate fell to 28.71% in August from 30.02% in July, according to the CBRT’s latest survey of market participants. The next 24-month estimate also fell, to 19.30% from 19.32%, while the year-end estimate rose to 43.31% from 42.95% in July. The full-year GDP growth estimate was unchanged at 3.4%.
  • Bloomberg report that Turkey’s parliament will hold an extraordinary meeting today to discuss whether to restore membership of a jailed opposition lawmaker. The case has been closely watched as a test of rule of law after the country’s top court recently ruled that his unseating was “null and void.” Parliament is scheduled to convene at 12:00BST/14:00 local time.
  • According to the Banks Association of Turkey, finance loans for infrastructure and investments fell in the first half of the year, Ekonomi report. Data showed the risk balance of project-finance loans decreased by 5% compared with the end of last year.

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