NO INTEREST RATE CUTS WITHOUT INFLATION UNDER CONTROL
Central Bank Governor Fatih Karahan said interest rate cuts can only be effective when inflation is under control.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
JULY 11 CEREMONY MARKS FIRST STEP IN PKK’S DISSOLUTION
All eyes are on Sulaymaniyah in northern Iraq, where the first group of PKK members is set to disarm on July 11 — the organization’s first act of disarmament since its founding nearly 50 years ago. This symbolic ceremony follows the PKK’s May 12 announcement of its decision to disband. Depending on when subscribers opt to read this issue, the footage may have already surfaced.
YANGIN
I had every intention of writing about düğün/wedding this week. Who could resist, after all, the cinematic absurdity of Jeff Bezos’s Venetian wedding extravaganza? It was the sort of wedding you'd rage over for its sheer insouciance over war, poverty, and environmental concerns: a three-day floating carnival of tuxedoed billionaires, Brazilian butts and a $2,000 bottle of tequila airlifted across continents because, apparently, Venice no longer has liquor stores. The bride wore archival Dolce & Gabbana; Ivanka looked pretty in pink and a German-Turkish Bezos lookalike desperately wanted to meet the couple and present a wedding gift. I was far too ready to bitch about arrogant extravagance and muse on Turkish weddings, those long, loud, gold-pinned affairs where uncles compete in folkloric footwork and everyone pretends the damat's family is not agonizing over the costs…
REASONED VERDICT RELEASED 13 MONTHS AFTER SENTENCING
Thirteen months after sentencing, the Ankara 22nd High Criminal Court has released its reasoned verdict in the high-profile Kobani trial, in which former HDP Co-Chairs Selahattin Demirtaş and Figen Yüksekdağ were sentenced to 42 and 30 years in prison, respectively.
RISING FORECASTS, OPPORTUNIST PRICING
Turkey's inflation and high cost of living show no sign of easing. A new Central Bank survey points to rising price expectations — coming just days after the bank officially revised its own forecasts upward.
ILLEGAL GAMBLING CRACKDOWN ENSNARES PRO-GOVERNMENT MEDIA FIGURE, IŞ BANK EXECUTIVES
A sweeping operation targeting illegal online gambling and money laundering networks led to the detention of 128 people across 21 provinces on May 14, including polarizing media figure Rasim Ozan Kütahyalı and two senior executives from İş Bank, one of Turkey's largest private banks.
FASTER INFLATION AND WIDER CURRENT ACCOUNT DEFICIT THREATEN ŞİMŞEK’S PLAN
Finance Minister Mehmet Şimşek warned investors to expect a worsening in the country’s current account and the central bank said it expects faster inflation as strain grows on the government’s economic plans.
EU BAN ON DESTROYING UNSOLD CLOTHING COULD BENEFIT TURKEY
The European Union will begin implementing a ban on the destruction of unsold clothing as of July 19, 2026, and the Turkish textile sector, due to its geographic proximity and flexible production capabilities, expects the ban could be beneficial.
CARREFOURSA SOLD TO A101, LIFESTYLE DEBATE IGNITED
Sabancı Holding and Carrefour Nederland BV sold their majority stake in CarrefourSA to Yeni Mağazacılık A.Ş., the parent company of the discount giant A101, reigniting debate over alcohol sales and lifestyles.
CENTRAL BANK KEEPS INTEREST RATES UNCHANGED AMID INTENSIFYING POLITICAL PRESSURE
The central bank kept its benchmark policy rate unchanged at 37% on April 22, meeting the expectations of most analysts. The decision comes following intensified criticism of both the bank and Finance Minister Mehmet Şimşek, 59, from the business world and media outlets close to the government.
İŞBANK CEO CALLS FOR END TO GOVERNMENT’S INFLATION PROGRAM
The CEO of Turkey’s largest private lender, İşbank, called for an immediate departure from the government’s economic program, saying that global conditions have made the fight against inflation impossible.
TURKEY KEEPS AN EYE ON PARALLELS IN HUNGARIAN POLLS
Hungary’s parliamentary elections on April 12 — described as the toughest test of Prime Minister Viktor Orban’s 16-year rule — will be closely watched not only in Europe but also in Turkey by both the AKP and the opposition.