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Minimum Wage Could Rise by Up to 20%

TURKEY
  • Sabah reports that a hike in minimum wages is expected in the coming days, with a 10-20% rise the expectation. The report writes that the minimum wage could rise to over TRY 5,000 in an interim rise.
  • The Culture & Tourism Ministry have reported significant increases in tourist visits on a Y/Y basis, with foreign arrivals rising 308% on the year to 3.82mln.
  • The CBRT are due to meet this week, with markets expecting policy rates unchagned at 14.00%. Very little split among sell-side analysts for this decision, although one bank cited in the Bloomberg survey sees another 100bps cut to 13.00%.

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