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TURKEY: Simsek Says Turkey Aims to Complete Exit from KKM in ‘Coming Months’

TURKEY
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  • Treasury and Finance Minister Simsek says Turkey aims to complete the exit from FX-protected deposit accounts, known as KKM, in the coming months without disrupting the market, Dunya report. He noted that KKM's share in total deposits has already fallen from 26% to below 10%, while the share of TRY deposits in total deposits has risen from as low as 32% last year to above 52%.
  • Turkey's adjusted consumer confidence rose to 78.2 in September from 76.4 in August, according to the Turkish Statistical Institute.
  • President Recep Tayyip Erdogan, who will attend the UN General Assembly in New York next week, is expected to meet with Greek Prime Minister Kyriakos Mitsotakis as part of bilateral talks, Hurriyet report.
  • Our review for yesterday’s CBRT meeting, with a summary of sell-side analyst views, will be released later today.
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  • Treasury and Finance Minister Simsek says Turkey aims to complete the exit from FX-protected deposit accounts, known as KKM, in the coming months without disrupting the market, Dunya report. He noted that KKM's share in total deposits has already fallen from 26% to below 10%, while the share of TRY deposits in total deposits has risen from as low as 32% last year to above 52%.
  • Turkey's adjusted consumer confidence rose to 78.2 in September from 76.4 in August, according to the Turkish Statistical Institute.
  • President Recep Tayyip Erdogan, who will attend the UN General Assembly in New York next week, is expected to meet with Greek Prime Minister Kyriakos Mitsotakis as part of bilateral talks, Hurriyet report.
  • Our review for yesterday’s CBRT meeting, with a summary of sell-side analyst views, will be released later today.