Turkey Tightens by Halting Benchmark Funding; Yields Climb
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Turkey’s central bank tightened monetary policy by withdrawing funding at its benchmark rate for the first time in more than two months. Bond yields rose to the highest level since January.
The central bank in Ankara didn’t offer to lend money to the country’s banks over a week at the 5.75 percent annual rate in a daily auction at the scheduled time of 10 a.m.