Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
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
