A brief macro update

TURKEY - Report 15 Aug 2025 by Murat Ucer

As our weekly report is on its usual holiday till September, we thought a very quick update on the past week’s developments could be useful, hence this post. In a nutshell, growth was likely stagnant in the second quarter, the CBRT Survey now places the policy rate at 35% by the end of this year, the July budget was encouraging, the deterioration in current account dynamics in June should prove temporary, and reserves are improving. We also comment very briefly on the ongoing public sector wage negotiations and revisit the CBRT’s Inflation Report presentation.

Now read on...

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