Free Trial

Cabinet Announcement Expected Late Saturday

TURKEY
  • Ekonomi cite S&P’s EMEA lead as stating that growth in Turkey is not sustainable given the backdrop imbalances in the economy. On FX reserves, S&P see replacing the negative FX reserves as particularly difficult.
  • Hurriyet narrow in on Erdogan’s upcoming cabinet announcement, seeing a release at 10pm on Saturday. Market-friendly former economy minister Mehmet Simsek is a firm expectation for inclusion in either an economy-specific role or Vice President.
  • May manufacturing PMI came in inline with the April release at 51.5.
  • Retail sector representatives are particularly concerned with a contraction in domestic demand this year, with the credit taps being “completely closed” across the election period.
  • Sweden are set to press ahead with a fresh set of terror laws – the strictest yet – in an attempt to placate Turkish President Erdogan’s opposition to Sweden’s NATO application.
  • CBRT minutes are set for release later today, crossing at 2pm local time (1200BST). The release covers the unchanged rate decision from May 25th.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.