TURKEY LIKELY TO DELAY RATE CUTS DUE TO IRAN TENSION
The central bank may pause its easing cycle at the March 12 meeting amid growing uncertainty caused by the U.S. attack on Iran.
Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The central bank may pause its easing cycle at the March 12 meeting amid growing uncertainty caused by the U.S. attack on Iran.
Turkey has reintroduced the “sliding scale mechanism” to prevent dramatic pump hikes from feeding inflation after the Iranian War pushed global oil prices higher.
The U.S. and Israel have started a war against Iran, although Trump does not want to call it as such. I saw no way out of the impasse between the two parties, although the Iranian side was optimistic after the third round of nuclear talks.
Turkish defense and software company HAVELSAN said its Flight Training Device Level 2 simulator for Boeing 737 Next Generation aircraft has received FNPT II MCC and FTD Level 2 certification, making it the first platform produced and certified at this level in Turkey.
Energy Minister Alparslan Bayraktar said that they are in 'close and intensive' talks with the Korea Electric Power Corporation (KEPCO) for the construction of new nuclear reactors.
The secularism-versus-religion debate continues in full force, with the ruling alliance fueling tensions after a father who objected to the use of a religious hymn as a school bell at his child’s school in Kocaeli’s Derince district was detained.
Turkey and Armenia appear closer to normalization, with the launch of direct flights by Turkish Airlines and plans to open border gates. Armenian Prime Minister Nikol Pashinyan said he expects tangible progress “within a short period” on reopening long-closed land borders and increasing flights between Istanbul and Yerevan.
Last week, Berlin experienced what felt like a Turkish procession. At the Berlinale — the Berlin International Film Festival, the home of the Golden Bear — two films from Turkey won the major prizes. The Golden Bear went to İlker Çatak with “Yellow Letters,” while Emin Alper got the Jury Grand Prize for “Salvation.”
Birthday diplomacy continued between Turkey and Greece as Greek Prime Minister Kyriakos Mitsotakis congratulated President Recep Tayyip Erdoğan on turning 72.
President Recep Tayyip Erdoğan opted not to attend the inaugural meeting of the U.S.-led Board of Peace in Washington — much like he previously declined to travel to Davos for the initiative’s launch — signaling a calibrated diplomatic balancing act. While Erdoğan is among the few leaders known to have a personal rapport with U.S. President Donald Trump, he refrained from participating in both events hosted by Trump. Instead, Foreign Minister Hakan Fidan represented Turkey on both occasions.
Turkey has once again been drawn into a debate over secularism after Education Minister Yusuf Tekin issued a circular instructing schools to organize Ramadan-themed activities, including the preparation of a “Ramadan checklist” for students.
A sweeping reshuffle in Turkey’s judiciary and security bureaucracy accelerated following the appointment of Akın Gürlek as justice minister.