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TURKEY: CBRT Says No Notable Change in Underlying Inflation in August

TURKEY
  • The CBRT published its assessment of August inflation. It noted that the annual figure declined due to high base effects, and that there was no notable change in the underlying trend of inflation.
    • The full release can be found here.
  • Speaking in an interview to Reuters, Deputy Governor of the CBRT Hatice Karahan said “The fiscal outlook will be critical in shaping the inflation outlook in the coming period,” citing the medium-term program due to be announced on Thursday. "While the monetary policy is beginning to yield results with lagged effects, we place significant importance on strong support from fiscal policy to ensure that disinflation progresses in the most effective manner," she said.
    • Full Reuters piece here.
  • President Erdogan hosts his Egyptian counterpart Abdel-Fattah El-Sisi in Ankara today.
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