Weekly Report 11 - 17 October 2016

Customer deposits (FX-adjusted) gain momentum in 9M:16, underpinned by stronger competition for TRY deposits

Lending activity (FX-adjusted) slows in 9M:16, due to tighter credit conditions

Headline inflation declines to -0.6% y-o-y in September from -0.2% in August, due to lower food prices

Parliament approves CHF-loan conversion at historical exchange rates

Headline inflation reverts to -0.6% y-o-y in September from -0.3% in August due to lower food prices

The current account surplus rises sharply to 2.8% of GDP on a 12-month rolling basis in August from 0.4% at end-2015

Headline inflation slows to 0.6% y-o-y in September, due to favourable food prices

NBS to keep its key rate on hold until the initiation of a new cycle of monetary policy tightening in April

Headline inflation turns positive, for the first time in 8 months, in September (+0.2% y-o-y), mainly due to slower energy deflation

Tourist arrivals rise modestly in 8M:16

The parliamentary approval of the remaining six laws required for the enactment of the judiciary reform increases the country’s chances to open EU accession talks

Headline inflation eases slightly, to 1.8% y-o-y in September, as lower food prices more than offset the deterioration in core inflation

Reforms must be accelerated, according to the EC-ECB Post-Programme Surveillance mission

Headline inflation declines to -0.5% y-o-y in September from -0.4% in August

Headline inflation declines for the first time in 6 months to 14.1% y-o-y in September

The CBE set to proceed with sharp hikes of its policy rates by end-December