Quotes from UniCredit Research:- Weekly data releases for the week ending 7 November showed a reversal in some metrics. While credit growth continued to accelerate, it did so at a slow pace, partly due to the increase in the cost of private credit. – Deposit conversion from TRY into FX increased after two weeks of consecutive decline, reinforced by TRY weakness during that week. But portfolio capital remained strong, driven by sizeable TURKGB and equity inflows. – Despite improving risk sentiment, we do not expect the CBRT to loosen monetary conditions next week as inflation pressures remain well above target and only expected to decelerate from next year.
The material has been provided by InstaForex Company – www.instaforex.com