CBRT cuts, Moody’s upgrades, politicians dither

TURKEY - Report 27 Jul 2025 by Murat Ucer and Atilla Yesilada

With few neurons firing during an excruciating heatwave, the politics author cuts his essays short, saving his energy for the upcoming quarterly/forecast report. Frankly, with everything being in the air, there is not much to report home, except to say, “this looks like a pregnant pause”. He expects significant developments in the Kurdish Peace Process next week, and on the Syrian Kurdish militia front within 30 days.

Sectoral confidence indices for July provided a mixed yet generally lackluster picture, with some (e.g., manufacturing sector confidence) rising, others (e.g., consumer, services) dropping, which should yield a broadly unchanged Economic Confidence Index next week, we reckon.

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