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Daily Macro News

The experts of Tacirler Investment interpret the markets in all details on a daily basis and share their expert opinions and knowledge with Tacirler stakeholders through the web portal tacirleryatirim.com. You can read the prepared newsletters through this website by logging in as a user, or you can regularly receive e-mail notifications into your inbox to follow up the markets closely.kategori-resmi

Macro and Politics
30.10.2025

* TURKSTAT will release October Economic Confidence Index @ 10:00 local time. The Economic Confidence Index edged up by a mere 0.1% in September to 98, remaining below the 100 – threshold. Having lingered under this benchmark since March, the index continues to reflect a predominantly pessimistic perception of the overall economic outlook. A breakdown of the September sub-indices presents a mixed picture: the...
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Macro and Politics
28.10.2025

* The unadjusted Real Sector Confidence Index (RSCI) rose from 100.2 to 100.8 in October, while the seasonally adjusted index increased from 100.8 to 102. Meanwhile, the Capacity Utilization Rate (CUR) inched up from 74.0% to 74.2%, and the seasonally adjusted CUR rose from 73.8% to 74.0%. An analysis of the subcomponents of the RSCI indicates that assessments regarding current inventories of final goods, current...
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Macro and Politics
27.10.2025

*The CBT will release the October Real Sector Confidence Index and Capacity Utilization Rate @ 10:00 local time today. The unadjusted Real Sector Confidence Index (RSCI) decreased from 100.6 level to in September, while the seasonally adjusted index increased from 100.6 to 100.8. Accordingly, the unadjusted RSCI, which averaged 101.6 in the second quarter of the year, retreated to 100.3 in the third quarter. It is...
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Macro and Politics
24.10.2025

* The Monetary Policy Committee (MPC) lowered the policy rate by 100bps, from 40.5% to 39.5%. Our baseline scenario had assumed a 150bps cut, though we had not ruled out a smaller adjustment. A closer look at the details reveals that the October MPC statement adopted a visibly more cautious tone compared to September, suggesting rising upside risks to our year-end policy rate forecast of 37.5%. Against this...
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Macro and Politics
23.10.2025

*TURKSTAT will release October Consumer Confidence Index @ 10:00 local time. The consumer confidence index slid merely from 84.3 to 83.9 level in September. Examining quarterly averages, the index averaged 89.3 in 3Q25 following an average level of 84.6 in 2Q25. It is important to underscore that the consumer confidence index — which ranges from 0 to 200 — signals pessimism when it falls below 100, and optimism...
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Macro and Politics
21.10.2025

*Based on our calculations using the CBT’s analytical balance sheet, we estimate that during the week of October 10 – 17, net international reserves increased by USD2.5bn to USD81.6bn, while gross FX reserves soared notably by USD8.8bn to USD198.6bn. Accordingly, our calculations point to gross foreign exchange reserves reaching an all-time high. We anticipate that the official reserve data, to be released on...
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Macro and Politics
20.10.2025

* The CBT released its Market Participants Survey for October 2025. Following the higher-than-expected September inflation print, participants’ inflation expectations for the coming periods deteriorated markedly. Accordingly, the 2025 year-end CPI expectation rose to 31.77% in October from 29.86% previously. In addition, the 12-month-ahead CPI expectation increased from 22.25% to 23.26%, while the 24-month-ahead...
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Macro and Politics
17.10.2025

* The CBT will release the results of the October Market Participants’ Expectations Survey today @ 10:00 local time. Following the significantly higher than expected September inflation print, we anticipate a palpable deterioration in market participants’ year-end inflation expectations. Please recall that, in the latest survey results released for September, the year-end 2025 inflation expectation rose to 29.86%,...
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