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Markets focused on growth data in Turkey

n Turkey, attention turned to the quarterly gross domestic product (GDP) data for the third quarter, which will be announced by the Turkish Statistical Institute (TÜİK).

Markets focused on growth data in Turkey

The Turkish Statistical Institute (TÜİK) will announce the growth data for the third quarter of the year.

It was previously reported that the Turkish economy grew by 3.5% quarterly and 3.8% annually in the second quarter.

The effects of the Central Bank of the Republic of Turkey's (CBRT) decision to raise the policy interest rate by 15 basis points in the third quarter, under the leadership of Hafize Gaye Erkan, will be closely monitored in the data.

Erkan emphasized the importance of price stability and the resulting financial stability as essential for sustainable growth in her message to industrialists at the Istanbul Chamber of Industry (ISO).

Erkan stated, 'The period of disinflation will be followed by a stability period where predictability will increase, inflation will reach single-digit figures, and along with quality growth, a decrease in inflation will be achieved permanently.'"

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