Select Language

TRY: How fast is inflation falling? - Commerzbank

Breaking news

TRY: How fast is inflation falling? - Commerzbank

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2024.11.04 20:47
TRY: How fast is inflation falling? - Commerzbank

update 2024.11.04 20:47

Turkey's current-account balance improved so far, but it is too early to be confident about sustainability. The same holds true for today's inflation readings, Commerzbank's FX analyst  Tatha Ghose notes.

Some moderation in Turkish inflation

"On Friday, the Istanbul Chamber of Commerce published its monthly cost of living index, which showed cost of living increasing by 3.64% m/m and 59.1% y/y. The media headlines were that cost of living increase had slowed down to 3.64% m/m. But, at this rate of month-on-month increase, annualised inflation still works out to 53%."  

"Many commentators view the Istanbul data as a cross-check on the national data: the two used to run close to each other historically, but then diverged after President Tayyip Erdogan made multiple changes to the Stats Office personnel. There's some moderation in inflation, but nothing policymakers should be getting sanguine about. In fact, the pace of moderation could even be tapering off, which is the big risk scenario."

"Turkish inflation might moderate to the 30%-40% range rather readily - because a part of the inflation upswing had obviously been globally correlated - but, this could not tell us whether Turkish monetary policy can ultimately tackle the endemic domestic inflation problem or not. One pre-requisite is that no other contradictory policies are implemented which would offset the contractionary impact of tighter monetary policy."


Date

Created

 : 2024.11.04

Update

Last updated

 : 2024.11.04

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

FX option expiries for Nov 5 NY cut

FX option expiries for Nov 5 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
New
update2024.11.05 14:24

Silver Price Forecast: XAG/USD remains steady around $32.50 ahead of US election

Silver price (XAG/USD) maintains its position around 32.50 during Asian trading hours on Tuesday as traders adopt caution ahead of the US presidential election.
New
update2024.11.05 13:57

AUD/NZD sticks to modest gains near one-week top, around 1.1030 area post-RBA

The AUD/NZD cross reverses an Asian session dip to the 1.0990 region and rallies to a one-week top on Tuesday in reaction to the upbeat Chinese data.
New
update2024.11.05 13:44

India Gold price today: Gold falls, according to FXStreet data

Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
New
update2024.11.05 13:36

RBA's Bullock: Believe rates need to stay restrictive for time being

Reserve Bank of Australia (RBA) Governor Michele Bullock is speaking at the press conference, following the announcement of the November monetary policy decision on Tuesday.
New
update2024.11.05 13:35

Gold price drops to one-week low, downside seems limited amid US political uncertainty

Gold price (XAU/USD) attracts fresh sellers during the Asian session on Tuesday and drops to over a one-week low, around the $2,725-2,724 region, though the downside seems cushioned.
New
update2024.11.05 13:06

AUD/JPY holds positive ground as RBA leaves interest rate unchanged at 4.35%

The AUD/JPY cross gains traction to near 100.40 during the Asian trading hours on Tuesday.
New
update2024.11.05 12:56

USD/CAD hovers around 1.3900 due to market caution ahead of US presidential election

The USD/CAD pair maintains its position around 1.3900 during Tuesday's Asian session, as traders exercise caution amid heightened uncertainty over the US presidential election outcome.
New
update2024.11.05 12:52

USD/INR rises as equity outflows weigh on Indian Rupee

The Indian Rupee (INR) extends its downside on Tuesday after closing at a new all-time low in the previous session.
New
update2024.11.05 12:00

WTI inches lower to near $71.00 ahead of US presidential election

West Texas Intermediate (WTI) Oil price edges lower due to uncertainties surrounding the results of the US presidential election on Tuesday.
New
update2024.11.05 11:56

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel