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Turkey – Factors to Watch on Dec 2


ANKARA, Dec 2 (Reuters) – Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira , stood at 13.4800 versus the U.S. dollar at 0424 GMT, weaker than a close of 13.4 on Wednesday. It touched a record low of 14 late on Tuesday.

The main BIST 100 share index (.XU100) rose 2.64% to 1,857.40 points on Wednesday.

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GLOBAL MARKETS

Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally. read more

TREASURY AND FINANCE MINISTER

President Tayyip Erdogan appointed Nureddin Nebati as Turkey’s minister of treasury and finance early on Thursday, accepting the resignation of Lutfi Elvan, the last top official seen to adhere to orthodox policy in a government gripped by a currency meltdown. read more

ECONOMIC POLICY

Turkish President Tayyip Erdogan is putting his political life on the line with a risky wager that driving down interest rates will reverse his skidding opinion polls, despite what is already a heavy economic toll on voters. read more

President Tayyip Erdogan’s campaign to slash Turkish interest rates began in September after he grew frustrated at the pace of central bank intervention. Three months and three rate cuts later, the lira has crashed but the president is holding firm. read more

ERDOGAN PROGRAMME

President Tayyip Erdogan will chair a meeting of his presidential high advisory board. He will then meet with athletes who won medals at Tokyo 2020 Paralympics.

FOREIGN TRADE

Trade Minister Mehmet Mus will announce foreign trade data for November at a press conference in Ankara (0830 GMT).

FOREIGN MINISTER

Foreign Minister Mevlut Cavusoglu will be in Sweden’s Stockholm Riga to attend to attend OSCE Ministerial Council meeting.

CENTRAL BANK

The central bank will hold an investors meeting. It will also announce banking and forex reserves data.

ISTANBUL PRICES (TRISTI=ECI)

Retail prices in Turkey’s largest city Istanbul jumped 4.71% month-on-month in November for an annual increase of 24.05%, the Istanbul Chamber of Commerce (ITO) said on Wednesday.

COVID-19

Turkey logged 22,556 new COVID-19 cases on Wednesday, health ministry data showed. Turkey recorded 196 deaths from the virus in the same period.

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Writing by Ece Toksabay

Our Standards: The Thomson Reuters Trust Principles.



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