Rate cut and peace hopes

TURKEY - Report 30 Nov 2025 by Murat Ucer and Atilla Yesilada

By the urging of MHP leader Bahceli, a three-member delegation from the Peace Commission (PC) visited former PKK leader Ocalan in Imrali Island. Neither the delegation, nor the Commission, issued a statement on the exchange, but DEM Party parliamentary deputy whip Mrs Gulistan Kocyigit gave a lengthy interview, explaining Ocalan’s views, which are hard to swallow for the governing Republic Alliance and the Turkish majority.
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In a PR effort of sorts, the CBRT Governor gave an interview, which was broadcast live on the Bank’s YouTube channel. While the target audience was the general public, and hence, the Governor’s remarks were of a somewhat educational nature and hardly new, it was nevertheless a missed opportunity of sorts, because a bold and hawkish message could usefully have been sent on the monetary policy outlook at a time the market seems to be getting ahead of itself (again).

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