Free Trial

Economic Confidence Rises in Dec, MPC Summary Scheduled for Release

TURKEY
  • Late yesterday afternoon, Labor Minister Isikhan said Turkey will raise the minimum wage by 49% in the new year. Bloomberg write that the hike announced is close to a level that several Wall Street lenders have warned would complicate the central bank’s efforts to curb inflation. Goldman Sachs Group Inc. and Morgan Stanley have suggested the central bank could further tighten policy should the minimum wage adjustment be higher than 40%-50%.
  • Withholding tax cuts for TRY deposits has been extended to April 30, state-run Anadolu Agency report citing a presidential decree in the official gazette.
  • Turkey's economic confidence rose to 96.36 in December from 95.31 in November, according to the Turkish Statistical Institute.
  • The central bank publishes a summary of the December Monetary Policy Committee meeting at 1100GMT/1400 local time. It will also publish weekly portfolio capital flows data this afternoon. Trade balance data for November will cross tomorrow (Est: -$5.90bln; Prior: -$6.52bln).

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.