Turkey – Factors to Watch on Nov 19

ISTANBUL, Nov 19 (Reuters) – Here are news, reports and events that may affect Turkish financial markets on Friday.

The lira traded at 10.0810 against the U.S. dollar at 0409 GMT. On Thursday, the currency weakened to an all-time low of 11.3, bringing its losses this week to 11.5%.

The main BIST 100 share index (.XU100) rose 1.75% to 1,736.88 points on Thursday.

GLOBAL MARKETS

Asian shares fell on Friday as disappointing earnings from Chinese e-commerce giant Alibaba heightened worries about Beijing’s broad regulatory crackdown and slowing growth in the world’s second-biggest economy. read more

RATE CUT

Turkey’s central bank, under pressure from President Tayyip Erdogan, slashed its policy rate by 100 basis points to 15% on Thursday and hinted at more easing despite inflation running near 20%, accelerating a spiral to all-time lows in the lira currency.

Turkey’s lira crashed 6% to new all-time lows on Thursday after the rate cut, leading opposition politicians to call for immediate early elections. read more

ISRAELI COUPLE

Turkey on Thursday freed an Israeli couple who had been arrested for photographing President Tayyip Erdogan’s residence in Istanbul and accused of spying, an allegation denied by Israel. read more

COVID-19

Turkey logged 22,234 new COVID-19 cases on Thursday, health ministry data showed. Turkey recorded 226 deaths from the virus in the same period.

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Compiled by Ali Kucukgocmen;

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