Free Trial

Commission Set to Determine Minimum Wage

TURKEY
  • Eyes of millions of employees are on today’s minimum wage commission meeting, Cumhuriyet report, where representatives of Turk-Is, TISK and the Ministry of Labour are expected to determine the 2023 minimum wage. The wage is expected to be increased to 8,000-9,000 liras (currently the minimum wage is 5500 liras).
  • Ekonomim report that Istanbul Mine Exporters Union President Cetinkaya said they couldn’t raise product prices to avoid market losses even though costs have increased by 20% in the last year in dollar terms. “The USDTRY exchange rate should be a minimum of TRY 22 to compensate for the losses, and TRY 25 for profitability,” Cetinkaya said.
  • Turkey's adjusted consumer confidence fell to 75.64 in December from a year-high of 76.63 in November, according to the Turkish Statistical Institute.
  • President Erdogan will chair a Defense Industry Executive Committee meeting in Ankara at 1100 GMT/1400 local time. There are no other tier 1 data releases left on the docket ahead of Thursday’s CBRT rate decision.
  • See the full MNI CBRT Preview including sell-side analyst views here: https://roar-assets-auto.rbl.ms/files/49327/MNICBR...

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.