ISTANBUL: The Turkish lira was steady and bond yields were broadly flat on Monday as investors shrugged off data showing the economy grew less than expected in the fourth quarter.
Turkey's gross domestic product (GDP) grew 1.4 percent year-on-year in the last three months of 2012, well below a Reuters poll forecast of 2.3 percent growth, official data showed on Monday.
Last year as a whole, GDP expanded 2.2 percent, compared with a poll forecast of 2.6 percent.
The market is also eying a Treasury auction on Monday of a reissue of a 7-year floating rate note.
By 0712 GMT the lira was at 1.8128 against the dollar , unchanged from 1.8125 before the GDP data and from 1.8096 late on Friday. Against its euro-dollar basket , it eased to 2.0667 from Friday's 2.0643.
The benchmark two-year bond yield was at 6.37 percent, compared with 6.36 percent on Friday.
"We don't expect a major market impact because the lower-than-expected fourth-quarter growth data is referring to a past performance," said Ali Cakiroglu, senior investment strategist at HSBC Asset Management, in a note.
Istanbul's main share index fell 0.06 percent to 85,842.08 points, outperforming a 0.25 percent fall in the global emerging markets index.
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