Turkey – Factors To Watch on Feb 17

Here are news, reports and events that may affect Turkish financial markets on Monday.

The lira USDTRY was quoted at 36.15E0-36.2390 against the U.S. dollar at 0420 GMT, after closing at 36.2250 on Friday.

The main BIST 100 share index XU100 closed 0.37% lower at 9,877.59 points on Friday.

GLOBAL MARKETS

Asia share markets crept higher on Monday as Hong Kong’s tech sector stole the limelight, while upbeat Japanese economic growth contrasted with a weak U.S. retail sales report to lift the yen on the dollar.

CENTRAL BANK GOVERNOR

Turkey’s central bank stands “ready to act” against risks in the current rate-cutting cycle, Governor Fatih Karahan told a conference for emerging market economies in Saudi Arabia on Sunday.

KKM ACCOUNTS

The Turkish Central Bank said on Saturday that opening and renewal of FX-protected deposit (KKM) accounts for legal entities have been discontinued as part of the strategy to phase out KKM accounts.

FINANCE MINISTER

Finance Minister Mehmet Simsek is expected to speak on a panel at an IMF emerging market economies conference in Saudi Arabia. (0820 GMT)

TREASURY AUCTION

The Treasury will tap a four-year TLREF-indexed bond maturing on December 6, 2028.

MAIN OPPOSITION PARTY

Ozgur Ozel, leader of the main opposition Republican People’s Party, will chair a meeting of the party’s central executive board. (0900 GMT)

INDUSTRY MINISTER

Minister of Industry and Technology Mehmet Fatih Kacir will attend a human resources forum in Istanbul. (0600 GMT)

FRITO LAY GIDA

Turkey’s competition board said on Saturday it had fined Frito Lay Gida 1.3 billion lira ($35.90 million) for violating the competition law by preventing its competitors’ sales in small shops.

PRO-KURDISH MAYOR

Turkey on Saturday removed another elected pro-Kurdish provincial mayor over convictions on terrorism-related charges and appointed a state official in his place, the interior ministry said.

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