Change at the CBRT and other news

TURKEY - Report 04 Feb 2024 by Murat Ucer and Atilla Yesilada

The CBRT Governor Hafize Gaye Erkan has departed under vague circumstances, to be replaced by Deputy Governor Fatih Karahan. Her successor’s reign will not witness a change in monetary policy settings, but could arguably create an opportunity to tighten it modestly. The political lesson from this incident is the unpredictability of President Erdogan.

Fringe parties like Islamist New Welfare and anti-immigrant Victory are reportedly rising in the polls, to the dismay of Erdogan, but he may pull a major upset on CHP this week thanks to pro-Kurdish right DEM.

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