Turkish assets firm ahead of rate-setting meeting

ISTANBUL Mon Dec 16, 2013 10:46am EST

Related Topics

ISTANBUL Dec 16 (Reuters) - Turkish assets edged higher on Monday, before a Turkish central bank meeting on Tuesday that is expected to leave interest rates unchanged.

Attention also focused on a U.S. Federal Reserve meeting on Tuesday and Wednesday. Any sign the Fed is about to start scaling back its stimulus programme could lead to less cash flowing into Turkey, which depends on such inflows to finance its current account deficit.

The lira gained against the dollar to 2.0268 by 1534 GMT from 2.0410 late on Friday.

The main stock index closed 1.13 percent higher at 74,899 points, outpacing a 0.1 percent rise in the wider emerging markets index.

The yield on the 10-year benchmark bond fell to 9.45 percent in thin trade from 9.53 percent on Friday.

Markets showed little reaction to a report on Monday that the jobless rate rose to 9.9 percent in the period from August to October and the budget surplus was 6.42 billion lira ($3.15 billion) in November. (Writing by Ece Toksabay; Editing by Larry King)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.