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Brazil's Industrial Production (YoY) grew 1.4% in January, matching the previous figure but falling short of the 2.2% forecast, indicating weaker-than-expected industrial activity.

The Central Bank of the Republic of Turkey (CBRT) lowered its One-Week Repo Rate to 42.50%, down from the previous 45.00%, marking a 250 basis point rate cut in its latest policy decision. Meanwhile, Gross FX Reserves declined to $94.76B, down from $97.70B, and Net FX Reserves fell to 68.39%, compared to the previous 71.98%, signaling a reduction in foreign currency liquidity.

Russia's business confidence declined to 3.3 in February from 4.2 previously, indicating weaker sentiment. The unemployment rate in January edged up to 2.4%, slightly above the expected 2.3%. Real wage growth in December surged to 11.3% YoY, far exceeding the 7.0% forecast, reflecting strong income gains. Retail sales grew 5.4% YoY in January, beating expectations of 4.1%, signaling resilient consumer demand. However, GDP growth slowed to 3.0% YoY in January, down from 4.5% previously, suggesting a deceleration in economic activity.

Turkey's CPI rose 2.27% MoM in February (prev. 5.03%, exp. 2.85%), while annual inflation eased to 39.05% (prev. 42.12%, exp. 39.90%), reflecting a slower pace of price increases.

Mexico's GDP shrank by 0.6% in Q4 2024, matching expectations, while annual growth slowed to 0.5%, slightly below the projected 0.6%. The decline signals ongoing economic challenges as the country struggles to regain momentum.

Mexico’s retail sales showed signs of stabilization in December, with retail sales (YoY) declining by 0.2%, a smaller drop than the -1.7% forecast and the -1.9% decline in November. On a monthly basis, retail sales (MoM) edged up by 0.1%, beating expectations of a -0.4% decline and improving from -0.1% in the prior month. The data suggests a slight recovery in consumer spending towards the end of the year.

Russia's inflation rate remained elevated in January 2025, with CPI (YoY) at 9.9%, slightly below the 10.0% forecast but higher than December’s 9.5%, indicating persistent inflationary pressures. On a monthly basis, CPI (MoM) rose by 1.2%, falling short of the expected 1.3% and matching the previous month's rate, suggesting a stabilization in price growth.

Brazil's retail sales declined slightly in December, with MoM growth at -0.1%, missing expectations of 0.0% but improving from -0.2% in the previous month. On a year-over-year basis, retail sales increased by 2.0%, falling short of the 3.5% forecast and significantly lower than 5.2% in November. The data suggests weakened consumer demand, potentially impacted by high interest rates and economic uncertainty.

Brazil's inflation eased in January 2025, with the Consumer Price Index (CPI) rising by 0.16% month-over-month, slightly above the expected 0.14%, but significantly lower than December's 0.52% increase. On a year-over-year basis, CPI stood at 4.56%, just below the forecast of 4.57% and down from 4.83% in the previous month. The data indicates a continued slowdown in inflation, which could provide room for the Brazilian Central Bank to consider a more accommodative monetary policy in the coming months.

Turkey's retail sales showed weak results in December 2024. On a month-over-month basis, retail sales grew by 0.4%, marking a sharp slowdown from the previous month's 1.9% increase. Meanwhile, on a year-over-year basis, retail sales expanded by 13.5%, down from 16.6% in the prior month. The data suggests a moderation in consumer spending, possibly due to tightening financial conditions or weaker demand momentum toward the year's end.

Mexico's central bank (Banco de México), reduced its benchmark interest rate by 50 basis points (bps) to 9.50% from 10.00% in February 2025, in line with market expectations.

The RBI announced a 25 basis point reduction in the repo rate, bringing it down to 6.25%. This marks the first rate cut in nearly five years, and the goal is to stimulate the nation's slowing economy.