CHP Report Shows Falling Support for Ruling Alliance, Supermarkets Impose Quotas

LOCAL NEWS

• CHP report shows support falling for the ruling People’s Alliance with the AKP gaining 33% of the vote & MHP 6.6% (below 7% threshold to be allowed into parliament).
  • Meanwhile the CHP & Good party received 24.9% & 14% respectively. The People’s alliance continues to reject calls for early elections
• Turkish supermarkets impose quota on milk, flour and oil as prices continue to soar. Chair of Turkey’s Consumer protection agency say the supermarkets are doing this to sell at higher future prices, despite erdogan’s threats of fines for ‘hoarding’
• S&P lowers Turkey’s outlook to negative, citing rising risks from the lira and inflation to its externally leveraged economy but kept its rating steady – but warned it could change in the future if govt’s policies further undermined the lira/inflation outlook
• Opposition Nation Alliance Group says it has prepared the text of “reinforced parliamentary system.” The text is expected to be announced to the public after being discussed in the internal committees of the parties

Data:

• 0700GMT: Oct Current account balance exp at 2.50bn vs 1.65bn prior
• 0700GMT: Oct Industrial production m/m exp at -0.1% vs -1.5% prior
• 0700GMT: Oct Industrial production y/y exp at 8.6% vs 8.9% prior