-
Turkish Lira, Bonds Fall as Minimum Wage Hike Fuels Inflation Fears
Turkish government bonds and the lira fell after a 49% minimum wage hike that’s expected to fuel inflation. The government raised the net minimum wage for 2024 to 17,002 liras ($578) to ease the cost of living. That’s at the upper end of the 40%-50% range that Goldman Sachs Group Inc. and Morgan Stanley had said could lead the central bank to further tighten monetary policy. Turkey’s 49% Minimum Wage Hike Balances Between Unions, Markets The yield on Turkey’s two-year government bonds jumped 62 basis points while yield on 10-year lira bonds rose 19 basis points. The lira slipped 0.2% to trade at 29.4509 per ... (full story)