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HDP Expected to Announce Support for Kilicdaroglu

TURKEY
  • An alliance led by the pro-Kurdish HDP party will announce its position on presidential elections at 0830 GMT/1130 local time in Ankara. The alliance is expected to declare support for Kemal Kilicdaroglu. Winning support of HDP, the largest non-aligned party, is crucial for Kilicdaroglu’s election bid and his pledges for a return to orthodox monetary policy and independent institutions.
  • Meanwhile, Bloomberg report that President Erdogan failed to convince former economy czar Mehmet Simsek to rejoin his administration. Simsek said on Twitter he isn’t planning to return to active politics due to his work for financial institutions abroad. The decision came just hours after an emerging Islamist party leader opted not to join the president’s alliance with some conservative and nationalist parties, preferring to run against him instead. Erdogan’s party did manage to secure the backing of another fringe party also.
  • There are no major economic releases on the docket today. The CBRT rate decision takes focus tomorrow, where rates are expected to remain on hold following guidance in February’s meeting statement that current rates are now “adequate” to support the economy. See the full MNI Preview here: https://roar-assets-auto.rbl.ms/files/52121/MNICBR...
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