Turkey's annual inflation rate surged to a 15-month high, with the Consumer Price Index (CPI) reaching 67.07% year-over-year and 4.53% month-over-month in February, exceeding forecasts of 66% and marking a significant increase from the previous 64.86%. This development indicates that the fight against inflation in Turkey is far from over, despite the central bank's recent halt to interest rate hikes. Meanwhile, Japan witnessed a robust increase in corporate capital expenditure, with a 16.4% year-over-year rise in the fourth quarter, significantly outpacing expectations of a 2.9% increase and the previous quarter's 3.4%. This surge suggests that Japanese businesses are more optimistic about their investment outlook. In contrast, South Korea reported mixed economic indicators, with industrial production rising by 12.9% year-over-year in January, surpassing expectations, but also experiencing a month-over-month decline in service sector output and retail sales by -1.3% and 0.6%, respectively.
Turkey inflation rises to 67%, keeping pressure on cenbank. https://t.co/zbvHQj4y1O
Turkey’s annual inflation swung to a 15-month high, an acceleration closely watched by a central bank that’s still on alert after ending interest-rate hikes https://t.co/CebRT8b0kS via @barisbalci https://t.co/Kq9n4EDUXm
Japan Companies’ Ordinary Profits Rise for 4th Quarter https://t.co/SkYJhtCUWK
💡 Turkey: Headline inflation climbs up to above-forecast 67.1% y/y in February - @EmergingMWatch on https://t.co/orvmA6Wqwk Full Story → https://t.co/dmtM2crxIz
🇧🇷 Brazil IPC-Fipe Inflation Index (MoM) (Feb) $BRL Actual: 0.46% Previous: 0.46%
Swiss inflation slows less than expected before SNB meeting https://t.co/QVPElFo0JL via @bbenrath https://t.co/tKp115d3on
Swiss inflation eased less than anticipated in February, a development that might mute speculation on a rapid rate cut https://t.co/kXINmpJmQY
🔴 SWISS CPI FEBRUARY 2024 FULL REPORT https://t.co/Pve9IwOoGH
🇨🇭 Inflation Rate YoY (Feb) Actual: 1.2% Expected: 1.1% Previous: 1.3% https://t.co/Sq8cNkA8Y4
🔴 ⚠️ BREAKING: SWISS CPI YOY ACTUAL 1.2% (FORECAST 1.1%, PREVIOUS 1.3%) $MACRO
🇨🇭 Switzerland CPI (MoM) (Feb) $CHF Actual: 0.6% 🟢 Expected: 0.5% Previous: 0.2%
🇨🇭 Switzerland CPI (YoY) (Feb) $CHF Actual: 1.2% 🟢 Expected: 1.1% Previous: 1.3%
Turkey’s annual inflation swung to a 15-month high, an acceleration closely watched by a central bank that’s still on alert after ending interest-rate hikes https://t.co/ANHz46vUY9
🔴 TURKISH CPI MOM ACTUAL 4.53% (FORECAST 3.85%, PREVIOUS 6.70%) $MACRO
🔴 TURKISH CPI YOY ACTUAL 67.07% (FORECAST 66%, PREVIOUS 64.86%) $MACRO
Japanese businesses increased investment in the final quarter of 2023, an indication that firms were more bullish than indicated https://t.co/MgQ6wUsFJ4
Turkey’s annual inflation probably swung to a 15-month high, according to the median estimate of economists in a Bloomberg survey. https://t.co/IOKMdk9DYE via @barisbalci https://t.co/4dVx5shywc
Japan's capital spending rises 16.4% in Oct.-Dec. https://t.co/ugxk9BtSbB
Japan Q4 corporate capex up 16.4% yr/yr - MOF https://t.co/i8H7QeILq3 https://t.co/BeS3eSgPUJ
⚠️ JAPAN Q4 CORPORATE CAPEX UP 16.4% YR/YR - MOF Full Story → https://t.co/AlO5lLhnz3 https://t.co/JOWMRukinc
🇯🇵 Japan Monetary Base (YoY) (Feb) $JPY Actual: 2.4% 🔴 Expected: 4.7% Previous: 4.7%
🔴 JAPAN CORPORATE CAPITAL SPENDING IN OCT-DEC RISES BY 16.4% YEAR ON YEAR: MOF
🇯🇵 Japan Capital Spending (YoY) (Q4) $JPY Actual: 16.4% 🟢 Expected: 2.9% Previous: 3.4%
🇰🇷 South Korea Retail Sales (MoM) (Jan) $KRW Actual: 0.6% Previous: 0.8%
🇰🇷 South Korea Service Sector Output (MoM) (Jan) $KRW Actual: -1.3% Previous: 0.3%
🇰🇷 South Korea Industrial Production (YoY) (Jan) $KRW Actual: 12.9% 🟢 Expected: 9.3% Previous: 6.2%
🇰🇷 South Korea Industrial Production (MoM) (Jan) $KRW Actual: 0.8% 🔴 Expected: 1.0% Previous: 0.6%
South Korean Industrial Production SA (M/M) Jan: -1.3% (est 0.9%; prev R -0.5%) - Industrial Production (Y/Y): 12.9% (est 10.0%; prev R 6.1%)
🔴 SOUTH KOREA'S INDUSTRIAL OUTPUT RISES 12.9% YEAR ON YEAR IN JANUARY: STATS OFFICE (SOURCE POLL PREDICTED 9.3%)
The fight against inflation is far from over in Turkey . . . https://t.co/rbAZOV1HRW
Turkey’s annual inflation probably swung to a 15-month high https://t.co/NMEd9WSRn2