Stranger things

TURKEY - Report 09 Nov 2025 by Murat Ucer and Atilla Yesilada

President Erdogan is marshalling his resources in the judiciary to open a new front in his showdown with CHP. The immunities of 12 CHP heavyweights, including chairman Ozer may be lifted. Meanwhile, shortly after the European Court of Human Rights ordered Turkey to release Selahaddin Demirtas, Bahceli surprised everyone once again, stating that his freedom may be auspicious for Turkey. But, will Erdogan do the right thing?
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Having reported on the October inflation print as well as the last Inflation Report of the year, we quickly review the October manufacturing PMI data (stagnation seems to continue), CBRT’s note on October price developments (not much new), the October cash budget (not so bad), preliminary October trade data (not so good) and CBRT reserve developments (broadly stable).

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