​Crucial summit between Erdogan and Bahceli scheduled for Wednesday

TURKEY - In Brief 17 Apr 2018 by Atilla Yesilada
I promised to write a market brief about early elections, but instead of responding to Bahceli’s call, Erdogan invited him for a summit at 13:30 on Wednesday. I still believe the leaders will agree on early elections, but want to keep my powder dry until then. I also insist that a decision for snap elections is market-negative, but investors will wait to see CBRT rate decision before taking positions. Early elections plus CBRT keeping rates fixed would spell serious trouble for TL denominated assets.

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