Turkish central bank raises inflation forecasts, pledges tight policy
Published . Updated .
Key takeaways
- By Ezgi Erkoyun and Nevzat DevranogluTurkey's central bank raised its end-2027 inflation forecast to 21% and its end-2028 forecast to 13.5% on Thursday, with Governor Fatih Karahan saying the bank would maintain a tight policy stance until prices stabilise.The end-2027 forecast
- Exposed: TUR, CEW, EMB, EMLC, EEM
- Market reaction: TUR +0.3% on the day; EEM −1.5% on the day; EMB −0.8% on the day
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By Ezgi Erkoyun and Nevzat DevranogluTurkey's central bank raised its end-2027 inflation forecast to 21% and its end-2028 forecast to 13.5% on Thursday, with Governor Fatih Karahan saying the bank would maintain a tight policy stance until prices stabilise.The end-2027 forecast
Directly affected
- No company is named in this report.
Indirectly affected
- TUR iShares MSCI Turkey ETF-17.0% 30d
iShares MSCI Turkey ETF holds stocks listed in Turkey, which this story is about (“turkish”).
- CEW WisdomTree Emerging Currency Strategy Fund
WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from Turkey.
- EMB iShares J.P. Morgan USD Emerging Markets Bond ETF+0.3% 6d
iShares J.P. Morgan USD Emerging Markets Bond ETF holds emerging-market government bonds, which react to inflation and interest-rate news like this one in Turkey
- EMLC VanEck J.P. Morgan EM Local Currency Bond ETF-1.6% 30d
VanEck J.P. Morgan EM Local Currency Bond ETF holds emerging-market bonds in local currencies, which move with rate and currency news like this from Turkey.
- EEM iShares MSCI Emerging Markets ETF-3.3% 13d
iShares MSCI Emerging Markets ETF is a broad fund of emerging-market stocks that includes Turkey
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TUR | -4.19% | +1.13% | base | +0.30% | after close | after close | after close |
| CEW | +0.00% | +0.00% | base | — | after close | after close | after close |
| EMB | -0.03% | +0.53% | base | -0.81% | after close | after close | after close |
| EMLC | +0.45% | +1.06% | base | -0.57% | after close | after close | after close |
| EEM | -6.42% | -1.63% | base | -1.52% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Turkish central bank raises inflation forecasts, pledges tight policy TradingView
Source: TradingView
Ishares (TUR) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| Wisdomtree Tr (CEW) | three days earlier | 0.00% | final price |
| Wisdomtree Tr (CEW) | five days earlier | 0.00% | final price |
| Ishares Tr (EEM) | that day | -1.52% | final price |
| Ishares Tr (EEM) | three days earlier | -1.63% | final price |
| Ishares Tr (EEM) | five days earlier | -6.42% | final price |
| Ishares Tr (EMB) | that day | -0.81% | final price |
| Ishares Tr (EMB) | three days earlier | +0.53% | final price |
| Ishares Tr (EMB) | five days earlier | -0.03% | final price |
| Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC) | that day | -0.57% | final price |
| Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC) | three days earlier | +1.06% | final price |
| Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC) | five days earlier | +0.45% | final price |
| Ishares (TUR) | that day | +0.30% | final price |
| Ishares (TUR) | three days earlier | +1.13% | final price |
| Ishares (TUR) | five days earlier | -4.19% | final price |
Who gains and who loses around Ishares (TUR)
Companies mentioned with this story
- TUR Ishares
For “Turkish central bank raises inflation forecasts, pledges tight policy,” Ishares (TUR) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Turkey ETF holds stocks listed in Turkey, which this story is about (“turkish”)
- CEW Wisdomtree Tr
For “Turkish central bank raises inflation forecasts, pledges tight policy,” Wisdomtree Tr (CEW) is linked, with no stored direction, medium confidence. Reason on file: WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from Turkey
- EMB Ishares Tr
In “Turkish central bank raises inflation forecasts, pledges tight policy,” Ishares Tr (EMB) is linked, with no stored direction, medium confidence. Reason on file: iShares J.P. Morgan USD Emerging Markets Bond ETF holds emerging-market government bonds, which react to inflation and interest-rate news like this one in Turkey
- EMLC Vaneck J. P. Morgan Em Local Currency Bond Etf
For “Turkish central bank raises inflation forecasts, pledges tight policy,” Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC) is linked, with no stored direction, medium confidence. Reason on file: VanEck J.P. Morgan EM Local Currency Bond ETF holds emerging-market bonds in local currencies, which move with rate and currency news like this from Turkey
- EEM Ishares Tr
Ishares Tr (EEM) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “Turkish central bank raises inflation forecasts, pledges tight policy.” Reason on file: iShares MSCI Emerging Markets ETF is a broad fund of emerging-market stocks that includes Turkey
Ishares (TUR)
The 12 Nov 2026 story “Turkish central bank raises inflation forecasts, pledges tight policy” names Ishares (TUR) because of this story.
For Ishares (TUR), the reason on file says iShares MSCI Turkey ETF holds stocks listed in Turkey, which this story is about (“turkish”)
Also listed, Wisdomtree Tr (CEW): WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from Turkey
Dates and price levels for Ishares (TUR)
EMB traded between 90.23 and 91.35 across 6 sessions. The latest close on file is 91.26. TUR traded between 29.38 and 34.51 across 20 sessions. The latest close on file is 30.15.
How strong the case is around Ishares (TUR)
40 out of 100
“Turkish central bank raises inflation forecasts, pledges tight policy” scores 40 out of 100. The score uses 1 sources, and 5 linked companies.