Erdogan Replaces Stats Institute Head Ahead of Key Inflation Data

LOCAL NEWS

• Erdogan replaces justice minister, stats institute (TUIK) head appointing Bekir Bozdag & Erhan Cetinkaya respectively.
  • The replacement of the stats head comes just before the release of inflation data and less than a year after his appointment to the position. Opposition parties have accused Erdogan with meddling with inflation and other data
• New Metropoll survey shows 47% believe the opposition alliance is not ready to Rule Turkey vs 46% who believe they are.
  • This is the first mildly positive survey for the ruling alliance in months, with approval falling below 40% in December
• DEVA party leader Babacan says next elections will be filled with surprises as voters will be searching more than ever for a better alternative to the AKP.
  • Analysts note that undecided voters will play a crucial role in elections and are increasingly looking to alternative candidates, including DEVA
• The Cabinet is meeting today under President Recep Tayyip Erdogan’s chairmanship. Cabinet will discuss the latest developments in the economy and the tension between Russia and Ukraine

Data:

• 0700GMT: Dec Trade Balance exp at -6.60bn vs -5.40bn prior
• 0800GMT: Dec Foreign Tourist arrivals, 111.5% prior