The current account balance recorded a surplus of 457 million USD in October.

During the week marked by a busy data agenda, meetings of the CBRT and the Fed were closely monitored. The CBRT cut its policy rate by 150 basis points to 38%.

The Turkish economy grew by 3.7% year-on-year in the third quarter.

Developments regarding US and Chinese trade policies were closely monitored in October. Leaders’s messages created a positive atmosphere following the meeting between Trump and Xi at the end of the month.

Monthly CPI inflation in November was 0.87%, below market expectations of 1.25%.