World Bulletin / News Desk
The Central Bank refrained from holding its one-week repo auction for the eighth time in a row during the first day of trading on Monday.
The bank skipped the auction -- in which local banks borrow Turkish liras from the Central Bank -- for the eight trading day as the bank acted to stem the sharp decline in the value of the local currency against other currencies.
A repo auction has not been held since Jan. 12. The bank signaled it would keep skipping the practice until volatility in foreign exchange rates calms down.
The Central Bank’s monetary policy committee decision about raising, holding or lowering interest rates is due on Tuesday, while Fitch’s rating review is expected on Friday.
It is likely the bank will increase its upper limit of interest rates corridor by at least 25 basis points, according to a panel of economists surveyed on Thursday.
BIST 100 rises 0.51 pct; USD/TRY exchange rate drops and EUR/TRY exchange rate stays
Of the major indices, Facebook weighed most heavily on the tech-rich Nasdaq Composite Index, which was down 0.9 percent to 7,411.34 about 20 minutes into trading.
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EA19's exports and imports rise 9.1 percent and 6.3 percent, respectively, year-on-year in January
Micro Focus warned in a statement that year-on-year revenues had fallen by more than anticipated since January, sending its shares slumping 55.88 percent to 831.40 pence.
Economy minister: Ankara 'absolutely' against Russia's limit on number of companies importing Turkish tomatoes
Turkey's assets abroad climb 2.1 pct at end of January 2018, compared with end-2017, according to Turkish Central Bank
BIST 100 opens 0.04 pct lower, Turkish lira loses value against foreign currencies
Listed shares in BIST 100 rise 0.01 percent; US dollar/Turkish lira rate climbs over 3.90; EUR/TRY stands at 4.80
Turkey bridges Muslim world and West, according to General Council for Islamic Banks and Financial Institutions
Britain intends to seek free trade deals with its major trading partners once it leaves the EU, as planned, in March 2019.
Net profits at the group rose 33.1 percent to hit 2.36 billion euros ($2.92 billion), higher than the 2.28 billion predicted by analysts.
About 45 minutes into trading, the Dow Jones Industrial Average was at 24,867.00, up 0.4 percent.
Low-cost carrier to offer direct flights to Dalaman from Dublin and Bratislava starting June
"Preliminary national accounts results for 2017 show an increase of 7.8 percent in GDP... compared with 2016," Jennifer Banim, an assistant director general at the Central Statistics Office (CSO), said in a statement.