ISTANBUL, July 25 (Reuters) - Turkish assets were steady on Friday before a three-day market holiday next week, while markets shrugged off Prime Minister Tayyip Erdogan’s call for deeper interest rate cuts.
Erdogan said on Friday interest rates were still too high and should be lowered, despite the central bank cutting its main interest rate by a total of 175 basis points since May.
Turkey’s central bank trimmed its main interest rate for a third consecutive month last week.
The lira stood at 2.0941 against the U.S. currency by 1640 GMT, little changed from 2.0920 early on Friday.
The benchmark 10-year government bond yield fell to 8.73 percent, close to its lowest since last October, compared with 8.69 percent on Thursday.
Turkey’s Cukurova and Russian telecoms company Alfa have agreed the terms necessary to enable the financing for Cukurova to recover a disputed stake in telecoms firm Turkcell TCELL.IS, a British court said on Friday.
Shares in Turkcell closed 4.2 percent to close at 13.65 lira after the announcement.
The main Istanbul share index closed 0.47 percent higher at 84,289.65 points, outperforming the wider emerging markets index which fell 0.22 percent.
Writing by Ece Toksabay, Editing by Angus MacSwan