NEW PROBE TARGETS FOOTBALL REFEREES
A judicial investigation has spread to top-tier football referees, leading to the detention of Central Referee Committee (MHK) Chair Ferhat Gündoğdu and six other officials.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
CENTRAL BANK HOLDS RATE AT 37% AS BUSINESS SECTOR DEMANDS CREDIT RELIEF
The central bank kept its benchmark policy rate unchanged at 37% during its Monetary Policy Committee meeting on July 23, matching market expectations. However, business leaders are increasingly complaining about high borrowing costs, tight credit restrictions, and falling industrial output.
NEW TAX INCENTIVES FOR NUCLEAR POWER INVESTMENTS
The parliament’s Planning and Budget Committee has approved an omnibus bill introducing significant tax incentives to boost nuclear energy investments.
CENTRAL BANK HOLDS MAIN INTEREST RATE AT 37 PERCENT
The central bank kept its benchmark policy rate unchanged at 37% for the third consecutive meeting on June 11, matching the consensus forecast of economists. The Monetary Policy Committee also held its overnight lending rate at 40% and its borrowing rate at 35.5%. The central bank last altered its policy rate in January with a 100-basis-point cut.
CHP SEES HOPE IN ANKARA DECISION BUT FUTURE STILL IN LIMBO
An Ankara court on Sept. 11 overturned the ruling that appointed an interim committee to run the main opposition party’s Istanbul branch. According to the CHP, the decision from the Ankara 3rd Civil Court of First Instance effectively nullified the earlier ruling of the Istanbul 45th Civil Court, in line with CHP’s argument that only an Ankara court can rule since the party’s headquarters are in Ankara. Yet, the decision can be appealed in a higher court.
BETTING SCANDAL IN FOOTBALL INVOLVES PLAYERS
The Turkish Football Federation (TFF) has provisionally referred 1,024 footballers to the Professional Football Disciplinary Committee on grounds of betting and has published a list of their names.
THREE DECADES IN THE MAKING: ALTAY TANK FINALLY ROLLS OUT
The first Altay tank was delivered to the army on Oct. 28, crowning a three-decade push to develop and produce a domestic main battle tank. The project, launched by a 1996 decision of the Defense Industry Executive Committee, aimed to build an indigenous tank using locally developed technologies. However, the finalized model relies on South Korean-made engines and transmission systems.
RESIGNATIONS ROCK AKP ELAZIĞ BRANCH
After eight AKP provincial heads stepped down from duty, all members of the Elazığ Provincial Executive Committee, including the newly appointed acting head, İbrahim Sencer Selmanoğlu, resigned.
CENTRAL BANK CUTS RATES BY 3 POINTS DESPITE ONGOING INFLATION RISKS
The Central Bank lowered its one-week repo rate from 46% to 43% on July 24, despite warning signs that inflation pressures persist. This was the first cut following the April rate hike. The Monetary Policy Committee also reduced the overnight lending rate from 49% to 46% and the overnight borrowing rate from 44.5% to 41.5%. While June’s core inflation trend remained unchanged, preliminary indicators pointed to a temporary rise in July inflation due to month-specific factors.
CUNTA
In Turkish politics, few words are as loaded—or as likely to provoke presidential rage—as “cunta.” From its etymological roots in the Spanish resistance to Napoleonic rule (junta, meaning a council), cunta has acquired a sinister sheen along the way. Today, it conjures images not of patriotic committees, but of tanks on boulevards, generals behind microphones, and constitutions suspended by decree (Bet you’ve heard that last one before). So when CHP Chair Özgür Özel recently accused the ruling bloc of staging a “civilian coup”—sivil darbe—and likened the government's tightening grip to a junta mentality, it landed like a Molotov cocktail in Turkey’s ever-combustible political arena.