Turkey to face inflationary pressure in near future

The Turkey government has decided to hike its minimum wage rate by 30% y/y in 2016. Therefore, inflation rate in the economy is expected to surge up in near future and thereby, TRY will be under pressure. 

 "We expect inflation to accelerate to 7.7% in November and rise above 8.0% by the year-end, says Barclays in a research note to its client.