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TURKEY: Moody’s Completes Periodic Review; Manufacturing Confidence Edges Higher

TURKEY
BulletEM BulletEmerging Market News
  • Moody's Ratings completed a periodic review of the ratings of Turkey after hours Friday. They note that the nation’s rating "could be upgraded if the authorities continue to effectively implement policies that restore macroeconomic stability, reduce inflation on a sustained basis, achieve lasting de-dollarization of the economy, and rebalance growth away from credit-driven domestic demand".
  • Turkey's manufacturing confidence was 100.9 in January, according to data from the CBRT, up from 99.1 in December but still well within the 2024 range. Adjusted manufacturing confidence was 102.6 while capacity utilisation stood at 74.6%.
  • Local newspaper Ekonomi run a piece in which they note that the appetite for IPOs has declined. The newspaper say demand for IPOs is struggling as some companies have postponed offerings, with “market analysts” recommending postponement to the second half of the year due to a liquidity shortage.
  • There are no other data releases scheduled for today, with trade balance figures for December the highlight of the week on Friday.
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  • Moody's Ratings completed a periodic review of the ratings of Turkey after hours Friday. They note that the nation’s rating "could be upgraded if the authorities continue to effectively implement policies that restore macroeconomic stability, reduce inflation on a sustained basis, achieve lasting de-dollarization of the economy, and rebalance growth away from credit-driven domestic demand".
  • Turkey's manufacturing confidence was 100.9 in January, according to data from the CBRT, up from 99.1 in December but still well within the 2024 range. Adjusted manufacturing confidence was 102.6 while capacity utilisation stood at 74.6%.
  • Local newspaper Ekonomi run a piece in which they note that the appetite for IPOs has declined. The newspaper say demand for IPOs is struggling as some companies have postponed offerings, with “market analysts” recommending postponement to the second half of the year due to a liquidity shortage.
  • There are no other data releases scheduled for today, with trade balance figures for December the highlight of the week on Friday.