Turkey's bonds slip as c.bank restarts repo auctions, politics weighs

LONDON: Turkey's dollar bonds slipped as much as 1 cent on Monday as two moves by the country's central bank to effectively loosen lending conditions combined with a fresh bout of political unease soured sentiment.

The central bank restarted one-week repo auctions for the first time since it put a pre-local election squeeze on money markets on March 22. It also decreased the lira interest rate limit for swap transactions to 24 percent from 25.5 percent.

It came too as Turkish President Tayyip Erdogan said on Monday the margin of votes between Istanbul's top two candidates was too small for the opposition to have claimed victory in the city's recent municipal election.