Turkish central bank opens 5 bln lira repo auction

Credit: REUTERS/UMIT BEKTAS

Turkey's central bank said on Friday it opened a 5 billion lira ($628 million) repo auction by the traditional, or variable rate method with an average simple rate of 13.33%, a day after it surprised analysts by holding its policy rate steady.

ISTANBUL, Oct 23 (Reuters) - Turkey's central bank said on Friday it opened a 5 billion lira ($628 million) repo auction by the traditional, or variable rate method with an average simple rate of 13.33%, a day after it surprised analysts by holding its policy rate steady.

The repo CBTF will mature on Nov. 20. While leaving the repo rate at 10.25%, the bank raised the top rate in its corridor, the late liquidity window (LLW), to 14.75% from 13.25%. Analysts had expected a large rate hike.

($1 = 7.9646 liras)

(Reporting by Daren Butler; Editing by Jonathan Spicer)

((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging: daren.butler.thomsonreuters.com@reuters.net))

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