Turkish C.Bank Does Not Hold Repo Auction

The Turkish central bank did not hold its usual fixed-rate repo auction on Thursday for the second consecutive day in line with a pledge last week to implement short-term additional monetary tightening to counter excessive forex market volatility.

It said the tightening would be implemented through open market operations, reducing funding through the repo rate, and said it may hold intraday forex-selling auctions or intervene directly if necessary.

Source: Reuters