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Minimum Wage Hike Announcement Expected Today

TURKEY
  • Markets are on watch for the formal announcement concerning the minimum wage today, with an interim wage hike of somewhere between 20 – 30% expected, according to Sabah.
  • Dunya reports that institutional FX sales in Turkey are nearing $3bln after the banking regulator imposed a foreign currency asset limit for TRY loans last week.
  • Manufacturing PMI showed a slowing sector this morning, with June’s figure dropping to 48.1 from 49.2 in May. That’s the fourth consecutive month of contraction and the fastest pace of contraction since the depths of the COVID crisis in 2020.
  • Finance minister Nebati is due to speak later today at Diyarbakir, with Erdogan appearing later in the day at a graduation ceremony.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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