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Erdogan Calls For More Than 200bps Further Cuts by Year-End

TURKEY
  • Speaking to CNNTurk late yesterday, President Erdogan made a direct call for the CBRT to cut rates below 10% by year-end. In the interview, Erdogan stated that “from now on there is no going up, it will fall further. That will also reduce inflation”.
  • Polling intentions continue to flag the risks to Erdogan’s re-election changes, with AKP garnering less than 30% support across several surveys, according to today’s Sozcu. This keeps the CHP opposition very competitive, who consistently receive backing of 25 – 26%.
  • Ahead of next year’s elections, Cumhuriyet write that opposition parties are still yet to agree on a consensus candidate, and leaders are meeting on October 2nd as part of another negotiation process to back a coalition leader.
  • Finance Minister Nebati is to appear at an economic summit in Istanbul, delivering the opening speech from 10am local time (0800BST).
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