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CBRT to Release Summary of March Meeting, Focus Turns to Local Elections

TURKEY
  • On Sunday 31 March Turkey holds its local elections. While local elections would usually be viewed as an event with only minor implications for national politics and markets, that is not the case this electoral cycle. The nationwide vote share and the performance of major parties in key cities could have a significant impact not only on Turkey’s short-to-medium term political and economic outlook, but also its longer-term political system.
    • See the full preview from our Political Risk team here.
  • Turkey's economic confidence rose to 100.049 in March from 99.018 in February, according to the Turkish Statistical Institute. That is its highest level since June. There are no other economic releases on the docket today, with trade balance data for February set to cross tomorrow (Est: -$7.00bln; Prior: -$6.23bln).
  • The central bank will release a summary of its latest rate setting meeting at 11:00GMT. Our review of that decision can be found here.
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