FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Turkish Central Bank Revives Bond-Buying Drive to Rein in Yields

TURKEY
  • The CBRT bought government bonds for the first time in more than a year in an attempt to drive down surging borrowing costs
  • a total of 300 million liras ($22.3 million) worth of bonds maturing in 2027 and 2028 were bought at an auction on Wednesday. The move comes after the yield on 10-year government debt rose to an all-time high of 24.88% on Monday.
  • While the bond purchases can help anchor yields, the prospect of more monetary stimulus threatens to further undermine the fragile outlook for inflation.
  • The CBRT’s securities portfolio can grow to 5% of assets, according to its annual monetary and exchange rate policy report published late last month. That means the central bank can buy a total 25.5 billion liras worth of bonds in 2022, after accounting for notes that are due to mature this year.
  • The CBRT currently has 74.1 billion liras of securities on its portfolio, equivalent to 4.4% of assets.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.