This is a friendly reminder that over the past 4 years, Turkey hasn't seen a whole year without a(n academic definition of a) currency crisis research.sebgroup.com/api/attachment…

The flip side of congratulating TCMB on today's decision should perhaps be lamenting it for not moving faster sooner.

In this week's EM Monitor we focus on Russia🇷🇺. Despite the costs of the sanctions the economy has held up remarkably well. Yet behind the headline statistics are significant structural weaknesses.

On the face of it, Turkey's Jan current account deficit deteriorated, albeit less than expected. Yet part of this is seasonal. Behind those factors, January offered some positive developments - such as an improving core goods balance and lower gold imports.

In this week's EM Monitor: Time is running out for Turkey's central bank research.sebgroup.com/macro-ficc/rep…

Here's Stoltenberg's invitation letter to Sweden to formally join NATO, after Hungary deposited its ratification at the State Department, Swedish public broadcaster SVT reports.

In a short while, Sweden will declare its status as NATO's 32nd ally.

China set its 2024 GDP growth target to 5%, as we expected. Yet as we noted in our EM Monitor, 2024 will not have the benefit of growing off a lower base as 2023 could. Improving sentiment will be challenging. research.sebgroup.com/api/attachment…