March 4, 2020 / 4:34 AM / 24 days ago

Turkey - Factors to Watch on March 4

ISTANBUL, March 4 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira stood at 6.1055 against the dollar at 0430 GMT, firming from a close of 6.1100 on Tuesday.

The yield on the benchmark 10-year bond fell to 12.18% on Tuesday from 12.75 on Monday.

The main BIST 100 share index rose 3.63% on Tuesday to 111,207.27 points.

GLOBAL MARKETS

Asian shares struggled to find footing on Wednesday and bonds held stunning gains, as an emergency rate cut from the U.S. Federal Reserve seemed to stoke rather than soothe fears over the coronavirus’ widening global economic fallout. The surprise 50 basis point cut came with commentary highlighting the limits of monetary policy, and Wall Street indexes fell sharply. Gold surged and the dollar sank.

ERDOGAN SCHEDULE

President Tayyip Erdogan will make a speech to lawmakers from his AK Party in parliament (0800 GMT). He will then meet European Council President Charles Michel (1000 GMT) before chairing a cabinet meeting (1200 GMT).

CENTRAL BANK ON PRICE DEVELOPMENTS

The Turkish Central Bank releases its monthly statement on price developments (0700 GMT) after inflation data on Tuesday showed inflation rose for a fourth straight month to 12.37% in February.

REAL EFFECTIVE EXCHANGE RATE

The central bank will announce the real effective exchange rate for February (1130 GMT).

GOLD-BACKED BOND, SUKUK

Turkey’s Treasury will issue a one-year gold-backed bond and sukuk to corporate investors on Wednesday.

ANADOLU EFES

The beer maker will hold a news conference on its targets for this year (0700 GMT).

For other related news, double click on:

Turkish politics TR-POL

Turkish equities TR-E

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Reporting by Daren Butler)

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