18 January 2017•Update: 18 January 2017
By Fatih Erkan Dogan
ANKARA
Wednesday saw the Turkish central bank refrain from holding its one-week repo auction for the fifth time in a row.
The institution skipped the auction -- in which local banks borrow lira from the central bank -- for a fifth trading day as the bank acted to stem the sharp decline in the value of the Turkish lira against other currencies.
A repo auction has not been held since last Thursday. The bank signaled it would keep skipping the practice until volatility in foreign exchange rates calms down.
