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Year-End Inflation Expectations Rise to 67.22%

TURKEY
  • See below for a summary of the latest estimates from the central bank’s September survey of market participants:
    • 12-month inflation estimate: 44.94% (Prior: 42.01%)
    • 24-month inflation estimate: 23.87% (Prior: 22.54%)
    • Year-end inflation estimate: 67.22% (Prior: 59.46%)
    • Year-end USDTRY estimate: 30.14 (Prior: 29.82)
    • 2023 GDP growth estimate: 3.9% (Prior: 3.7%)
    • 2024 GDP growth estimate: 3.8% (Prior: 4.0%)
  • Turkey is in talks with wealth fund ADQ and other relevant UAE companies to produce hydrogen, the Turkish Energy Minister said in an interview.
  • The rallying trend in IPO stocks has started to ease recently, Ekonomi report. Shares of 29 companies of the 33 firms that listed this year fell below their peak prices.
  • The Treasury & Finance Ministry publishes August budget data at 0900BST/1100 local time. President Erdogan will be speaking in Istanbul at various points today.

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