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TURKEY: Min. Wage Decision Should Follow CBRT Rate Announcement

TURKEY
BulletEM BulletEmerging Market News
  • A decision on minimum wages will likely be announced after the tripartite's final meeting, which is set to take place on either Thursday or Friday this week. Markets watch for whether the wage hike will be above or below 30% - seen as a bellwether for controlling, or complicating, the disinflationary process.
  • Local press continues to speculate over the upcoming CBRT decision, with Yeni Safak citing business industry contacts as requiring a rate cut this month, with the business world wanting "significant, not symbolic, policy rate cuts" at this juncture.
  • Ekonomi cite recent stats as showing that consumer 'need' is increasing in Turkey, with consumer loans, card spending and drawing from overdrafts increasing on a monthly basis.
  • The Turkish interior minister is set to speak at 10am local time today, while the VP Yilmaz appears in Ankara.
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  • A decision on minimum wages will likely be announced after the tripartite's final meeting, which is set to take place on either Thursday or Friday this week. Markets watch for whether the wage hike will be above or below 30% - seen as a bellwether for controlling, or complicating, the disinflationary process.
  • Local press continues to speculate over the upcoming CBRT decision, with Yeni Safak citing business industry contacts as requiring a rate cut this month, with the business world wanting "significant, not symbolic, policy rate cuts" at this juncture.
  • Ekonomi cite recent stats as showing that consumer 'need' is increasing in Turkey, with consumer loans, card spending and drawing from overdrafts increasing on a monthly basis.
  • The Turkish interior minister is set to speak at 10am local time today, while the VP Yilmaz appears in Ankara.