Turkish Stocks Sail to Record High on Rate Cut Expectations
Advances in the fight against persistently high inflation also signal that Turkey’s painful return to a more orthodox policy stance is bearing fruit.
Photographer: Erhan Demirtas/BloombergTurkish stocks jumped to an all-time high, eclipsing the previous record from 13 months ago, as expectations for a decline in inflation bode well for more interest rate cuts.
The Borsa Istanbul 100 Index, the Turkish benchmark gauge, rose 1.6% on Thursday. The gauge has climbed 25% since May as the brightening outlook for monetary easing stokes interest from foreign investors.