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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

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  • Article here speaking about frictions between the CBRT governor Kavcioglu and Erdogan that precipitated the shift towards core CPI after Erdogan promised a decline in August - which failed to materialise and Erdogan blamed Kavcioglu for misleading him
  • Also shows allegations of banking regulator meetings with deputy governors and not Kavcioglu as his English was insufficient to attend the meetings -which also angered Erdogan
  • Journalist notes the concerning component is Erdogan feeling miseld about inflation, which is something his predecessors Agbal & Uysal both did in painting rosy pictures for the president and market but when problems surfaced it was too late as the opportunity to counter the issues had come and gone
  • LINK:,32529