Turkey / Data
Turkey hikes end-2025 official inflation forecast range to 31-33%
Current policy set is to provide finance industry with high real returns without any supportive fiscal and structural measures. Officials will stick with it.
October PMI shows little light at end of tunnel for Turkish manufacturing
Currency weakness and subdued demand plague producers in 19th consecutive month of contraction.
Official Turkish inflation creeps down 0.4pp to 32.9%, complaints over high real rates growing louder
Finance industry pushing for pause in monetary easing, but real economy actors and exporters are hurting.
Eurobonds of Istanbul-listed Zorlu units offer attractive yields amid rating downgrades and no default expectation
Debut paper currently offering 14-15% yield.
Akbank launches autumn syndicated loan renewals season for Turkish banks at lower costs
Ten banks to roll over combined sum of $6bn.
Turkey's central bank remains cautious, delivers 100bp rate cut
Decision comes on eve of next hearing in trial that could dislodge leadership of opposition CHP party.
Chobani yoghurt king Hamdi Ulukaya becomes richest Turk
Knocks Murat Ulker into second place in Forbes ranking as his company's valuation leaps to $20bn.
Garanti sells Tier II eurobond as Turks persist in tapping international debt markets
Turkey’s CDS hover above 250-level. Yield on Turkish government’s 10-year eurobonds steady below 7%-level.
Turkey's official inflation creeps up to touch over 33% y/y in September
Central bank wants figure below 30% by year's end.
September PMI confirms Turkish manufacturers have struggled with rough times for year and half
Challenging demand environment meant month brought slowdowns in new orders and exports and a solid scaling back of production.
Turkey delivers another 250-bp rate cut largely in line with expectations
Move comes ahead of moment of truth in political showdown set to trigger a very shaky second half of September.
Turkey’s official inflation inches down another half-point to 33% in August
ENAG contends it edged higher to 65.5%. The Erdogan regime’s moves to shut down any serious opposition are, meanwhile, heating up.
PMI shows Turkish manufacturers continued to endure challenging market environment in August
Survey, however, also picked up signs of pressures easing.
Domestic FX loans extended by Turkish banks breaking records
Government's return to orthodox economic policies caused lira interest rates to surge. Companies turned to FX loans. Caps were introduced but lending still boomed.
Some positive movement on Borsa Istanbul, but tread with care
Stay wary of "moustaches" setting bull traps.