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TURKEY: CBRT Say Signs for an Improvement in Services Inflation More Apparent

TURKEY
BulletEM BulletEmerging Market News

Highlights from the CBRT's summary of its November meeting:

  • Leading indicators suggest that, similar to the previous month, the impact of food prices on consumer inflation will remain prominent in November. In contrast, monthly consumer inflation excluding food displays a more favorable track.
  • While core goods inflation remains low, signs for an improvement in services inflation have become more apparent.
  • The improvement in the cumulative current account balance in September was driven by the monthly falls in the energy trade deficit and gold trade deficit.
  • With the help of macroprudential policies prioritizing Turkish lira (TRY) deposits, deposit rates remained almost unchanged compared to the week ending October 18, and stood at 56.0% as of November 15.

See the full release here.

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Highlights from the CBRT's summary of its November meeting:

  • Leading indicators suggest that, similar to the previous month, the impact of food prices on consumer inflation will remain prominent in November. In contrast, monthly consumer inflation excluding food displays a more favorable track.
  • While core goods inflation remains low, signs for an improvement in services inflation have become more apparent.
  • The improvement in the cumulative current account balance in September was driven by the monthly falls in the energy trade deficit and gold trade deficit.
  • With the help of macroprudential policies prioritizing Turkish lira (TRY) deposits, deposit rates remained almost unchanged compared to the week ending October 18, and stood at 56.0% as of November 15.

See the full release here.