Latest News from Turkey
Turkey Offers to Mediate Pakistan-Afghanistan Ceasefire
President Erdogan stated Turkey intends to contribute to restoring the ceasefire between Pakistan and Afghanistan following terror attacks. He discussed this with Pakistani PM Shehbaz Sharif, covering bilateral and regional issues. Ankara aims to play a supportive role in regional stability.
Erdogan Condemns Both Sides in Iran War, Pushes for End
President Erdogan criticized attacks on Iran and Iran's retaliatory strikes, announcing intense diplomatic efforts to resolve the conflict at the negotiating table. Turkey, spared from Iranian attacks, seeks peace-oriented diplomacy. This follows US-Israel strikes on Iran.
Foreign Minister Fidan Engages Multiple Parties on Iran Conflict
FM Hakan Fidan met US Syria envoy, spoke with UK and Greek counterparts, Qatar PM, and Kurdistan president to end hostilities and restore stability. Discussions focused on diplomatic efforts amid escalating regional security issues. Turkey is working with Oman and others.
February Inflation Rises to 31.5% in Turkey
Monthly inflation hit 2.96%, pushing annual rate to 31.5% from 30.7%, driven by food, transport, and catering pressures. Core inflation fell slightly to 29.5% YoY amid controlled TRY depreciation. Energy risks from Iran war loom large.
Turkish Markets Plunge Amid Iran Conflict Volatility
Borsa Istanbul index dropped 2.71% to 13,346.43, led by banking and airline stocks. Regulators banned short-selling until March 6 and tightened liquidity to stabilize markets. Geopolitical tensions suppress risk appetite.
Trade Deficit Widens to $9.2 Billion in February
Turkey's trade deficit expanded from $7.8 billion last year, per Trade Ministry data. This reflects ongoing economic pressures amid global disruptions. Import costs rise with regional instability.
2025 GDP Growth at 3.6%, Below Forecasts
Full-year growth reached 3.6%, with Q4 at 3.4% YoY, driven by construction (10.8%) but agriculture contracted 8.8%. Officials expect stronger 2026 activity. Revisions showed Q3 at 3.8%, Q2 at 4.7%.
Iranians Fleeing Tehran Cross into Turkey
Thousands of Iranians enter Turkey via Kapikoy border as Middle East conflict enters fourth day, escaping dangers in Tehran. This highlights refugee flows from Iran war. Regional tensions displace civilians.
Central Bank Tightens Liquidity Over Iran War Impacts
TCMB suspended 1-week repo auctions and launched Lira-settled FX sales to curb USD/TRY volatility. Measures respond to oil price surges from Strait of Hormuz blockade. Inflation data release today adds pressure.
February CPI Data Shows 3.0% Monthly Rise as Expected
Markets anticipated 3.0% monthly increase, lifting annual inflation to 31.55%. Food and services pressures persist ahead of Central Bank rate decision. Geopolitics heightens upside risks.
Russia, China, Turkey Jointly Call for Iran War Ceasefire
The trio urged immediate halt to US-Israel-Iran hostilities, supporting UN-based solutions. Turkey's efforts include talks mediated by Oman. Conflict disrupts oil flows and flights.
JPMorgan Raises Turkey 2026 CPI Forecast to 25%
Amid economic concerns and inflation control measures, JPMorgan upped its 2026 CPI prediction to 25%. Growth slows under pressures from regional war. Volatility expected to continue.