What matters on Wednesday, October 6

The Parliament’s Foreign Affairs Committee has approved the Paris Climate Agreement. The pact will be discussed at the Parliament’s General Assembly today. President Recep Tayyip Erdogan had said Turkey would submit the Paris Climate Agreement this month when he delivered his speech at the United Nations General Assembly.

The American video on demand streaming service HBO (Home Box Office) Max will penetrate in Turkey in 2022, according to a statement from the company. Turkey service fee is not certain yet but a specific pricing is expected for Turkey just like other foreign companies applied.  

The international institutions have revised their forecasts towards the Central Bank’s interest rate decisions for October after the inflation figures were released in the country. The U.S-based JP Morgan expects the interest rate to remain steady at 18% while an additional interest rate cut of 100 basis points are estimated in November and December in total. The investment bank forecasts the headline inflation to hit 19.9% in October. The Swiss multinational investment bank UBS, meanwhile, also estimates the interest rate to be lowered by 50 basis points to 17.50% until the end of the year. UBS said the Central Bank would most likely wait for a decrease in headline and core inflation in order to reduce the interest rate once again. The UK-based Barclays expects three interest rate cuts in total by 75 basis points in the last quarter. The bank has raised the year-end inflation forecast to 17.9%.

The World Bank has upgraded GDP growth estimation for Turkey from 5% to 8.5% for this year, downgraded it from 4.5% to 3% for 2022 and from 4.5% to 4% for 2023.

The defense ministers of Georgia, Turkey and Azerbaijan underlined the significance of trilateral cooperation in regional security, peace, and stability.


President Recep Tayyip Erdogan will deliver a speech at AK Party’s Parliamentary Group meeting (12.00 pm).

The legislative proposal on approval of ratification of the Paris Agreement will be discussed at the Parliament’s General Assembly.

The legislative proposal on Tax Procedure Law and Amendment of Some Laws will continue to be discussed at the Parliament’s Planning and Budget Commission. 25 items of the legislative proposal were approved yesterday.


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