U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains 
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization 
US and Japan Fast-Track $550 Billion Strategic Investment Initiative 
JPMorgan’s Top Large-Cap Pharma Stocks to Watch in 2026 
UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
International banks have revised their inflation expectations for Turkey following encouraging June CPI data. Consumer prices rose by 1.64% from May, with the annual inflation rate dropping from 75.45% to 71.60%. Finance Minister Mehmet Şimşek declared the start of a disinflation process.
International Banks Lower Turkey's Inflation Forecasts as June CPI Shows Positive Economic Shift
The encouraging June CPI estimate has prompted international banks to revise their inflation expectations for Turkey, signaling a positive turn for the Turkish economy.
Consumer prices increased by 1.64 percent from May last month, which was lower than expected. The annual inflation rate also significantly decreased, from 75.45% to 71.60%, indicating a stabilizing economy.
Finance Minister Mehmet Şimşek, in a positive tone, declared that 'The disinflation process has begun,' in response to the latest inflation numbers, instilling confidence in the future of the Turkish economy.
Monthly producer prices increased by 1.38, resulting in an annualized increase of 50%. Şimşek stated that the most recent inflation is by the end-of-year objective.
The government's medium-term inflation target for 2024 is 33 percent. In May, the Central Bank increased its inflation forecast for the end of 2024 from 36 percent to 38 percent.
Global Banks Adjust Turkey's Inflation Forecasts Downward After Positive June CPI Data
Following the June inflation statistics publication by the Turkish Statistical Institute (TÜİK). JP Morgan has revised its inflation forecast for Turkey from 43.5 percent to 42.5 percent for the end of 2024. Additionally, the bank reduced its 2025 forecast from 25.2 percent to 25 percent.
Goldman Sachs, another significant global bank, contended that inflation may increase in July; however, it anticipates it will decline to 36 percent by the year's conclusion.
Morgan Stanley has reduced its inflation forecast for 2024 from 43.4 percent to 42.4 percent, a decrease from the previous estimate. The bank anticipates that Turkish inflation will decrease to 25.2 percent in the upcoming year, according to Hürriyet Daily News.
In a report, HSBC economists stated that the June CPI estimate highly favors the Turkish central bank, which provides a positive outlook for the economy, and the Turkish Lira, which suggests a potential currency strengthening.
They concluded that the June CPI estimate is unquestionably a positive outcome from the perspective of monetary policy and its credibility.
Photo: Microsoft Bing
