The Central Bank of the Republic of Türkiye raised its year-end 2026 inflation forecast to 29.5 percent from 28 percent, Governor Fatih Karahan said at the bank’s final inflation report briefing of the year. The bank also revised its 2027 forecast up to 21 percent from 15 percent, and its 2028 interim target to 13.5 percent from 9 percent.
US inflation and rate expectations
US consumer prices rose 0.4 percent month on month in October, above the 0.3 percent Bloomberg survey expectation. Core inflation also came in at 0.3 percent, against an expected 0.2 percent. On an annual basis, US inflation stood at 3.7 percent in September.
The stronger print strengthened expectations in global markets of a Federal Reserve rate hike.
Fund liquidations and regulator change
Some 119 funds are in ordinary or extraordinary liquidation, and 444,893 investors in those funds are receiving payments. Approximately 161 billion lira in cash and in-kind payments have been made so far. A separate 333,493 investors have recovered their full net investment through interim payments.
The Banking Regulation and Supervision Agency chairman, Şahap Kavcıoğlu, also resigned this week.
Energy and climate at COP31
President Recep Tayyip Erdoğan told the COP31 Business Forum in Antalya that Türkiye had not abandoned its growth and investment targets despite higher energy prices. He said foreign investor confidence had risen and that the country would add nuclear plants. Ten agreements worth 5.1 billion dollars were signed with four development banks at the forum.
International Energy Agency head Fatih Birol said energy security and climate goals had largely begun to overlap. He said a proposed target of raising electricity’s share of global final energy consumption to 35 percent by 2035 could increase interest in electrification investment.
Related: Brazil's market raises 2026 Selic forecast to 13.75% · Turkish bank deposits fall 0.52% in week to 6 November
Source: Central Bank of the Republic of Türkiye · International Energy Agency | Data: FRED — St. Louis Fed
