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Turkey Celebrates Commemoration Day

TURKEY
  • Note the Istanbul Stock Index is closed today for Commemoration Day.
  • The central bank reversed a decision requiring lenders to hold a certain level of government bonds for customers making gold purchases with their credit cards or using the cards to take out cash advances, according to a document sent to banks seen by Bloomberg. The move reverses regulations from earlier this week which required banks to buy government bonds equivalent to 30% of clients’ purchases of gold or jewellery made using credit cards with a limit above TRY50,000.
  • There are no major economic releases or speaker events scheduled today.

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