Key Developments on the Economy and Politics Agenda for August 24, 2026
In the last week of August, while domestic economic coordination and new financial data were monitored, rising geopolitical tensions and volatility in commodity markets came to the fore internationally.
Critical developments took place in politics, diplomacy, and economy in Turkey and across the world on August 23-24, 2026. While the intense schedules of domestic leaders and new decisions by the Central Bank stood out, the US-Iran tension and trade tariffs shaped the global agenda.
Domestic Politics and Leaders' Schedules
Vice President Cevdet Yılmaz attended the closing of the TEKNOFEST Mavi Vatan program held in Kocaeli on August 23. On August 24, Yılmaz chaired the meetings of the Economic Coordination Board and the Monitoring and Evaluation Board in Ankara, and participated in the Online Meeting of the Coalition of Volunteers. Minister of Industry and Technology Mehmet Fatih Kacır was also among those who visited TEKNOFEST Mavi Vatan.
On the opposition side, İYİ Party Chairman Müsavat Dervişoğlu visited Celal Bayar's tomb in Bursa, met with farmers, and watched the Kurtdereli Mehmet Pehlivan Wrestling in Balıkesir. Meanwhile, New Party Chairman Özgür Özel chaired the Central Executive Board Meeting held at the Grand National Assembly of Turkey (TBMM).
Central Bank Decisions and Economic Data
The Central Bank of the Republic of Turkey (CBRT) decided to resume weekly repo auctions. The bank also shared with the public the foreign currency assets and liabilities of non-financial sector firms for June, the household expectation survey for August, sectoral inflation expectations, and financial services statistics and confidence index.
Global Politics and Geopolitical Tensions
Internationally, the tension between the US and Iran, developments in the Strait of Hormuz, and the ceasefire process in Gaza are being closely monitored. Iranian President Pezeshkian stated that his country is in an all-out war economically and militarily, while the Iranian administration announced that the interests of regional countries supporting the US in the economic war would be targeted.
On the North American front, Donald Trump claimed that Canada wanted to enjoy the benefits of being a US state without actually becoming one. Canadian Prime Minister Carney responded to these statements, announcing that they would retaliate against the tariffs to be imposed by the US.
Global Markets and Commodity Prices
In global markets, a weakening dollar and supply concerns led to a rise in commodity prices. During this period, the price of Brent crude oil fell below $90 per barrel. While China threatened retaliation against US sanctions on Iran, expectations that Russia might suspend its grain export tax were also monitored by the markets.