Turkish assets steady before rate-setting meeting
ISTANBUL Dec 16 (Reuters) - Turkish assets edged higher on Monday before a Turkish central bank meeting on Tuesday that is expected to leave key interest rates unchanged.
The U.S. Federal Reserve meets on Tuesday and Wednesday to discuss scaling back its $85 billion in monthly bond buying. Opinion is divided on whether it will move this week or wait for January -- or March.
"The (Turkish central) bank would wait and see the FOMC moves before making a dramatic change in its current monetary policy framework," the brokerage house Ekspres Invest said in a note.
The central bank raised the minimum amount in a forex-selling auction on Monday to $180 million from a previously announced $100 million as it implements one-day additional tightening, bank data showed.
The lira gained against the dollar to 2.0360 by 0956 GMT from 2.0410 late on Friday.
The main stock index traded 0.34 percent higher at 74,315.97 points, outpacing a 0.23 percent fall in the wider emerging markets index.
The yield on the 10-year benchmark bond fell to 9.40 percent in thin trade from 9.53 percent on Friday.
There was little impact from data on Monday that showed the jobless rate rose 9.9 percent in the period from August to October and the budget surplus was 6.42 billion lira ($3.15 billion) in November.
Finance Minister Mehmet Simsek said the government would maintain its cautious stance on fiscal policy next year, when the country holds municipal and presidential elections. (Writing by Ece Toksabay; Editing by Larry King)
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