Economy in Turkey: Strong Rise in Borsa Istanbul
The Borsa Istanbul’s BIST 100 index closed the day with a 2.36% gain, finishing at 10,054 points. The index increased by 232.25 points compared to the previous close, with a total trading volume of 80.4 billion lira. The banking index rose by 4%, while the holding index gained 1.66%. Among sector indices, banking was the top performer, while insurance was the only one to decline, falling by 0.66%.
Critical Signals from Jackson Hole
Analysts noted that global stock markets started the week with mixed trends, with investors focusing on signals from the Jackson Hole Economic Policy Symposium in the United States. They highlighted that tomorrow’s domestic focus would be on the Turkish Central Bank’s (TCMB) Monetary Policy Committee (PPK) meeting, where the interest rate decision would be announced. Internationally, the Consumer Price Index (CPI) in the Eurozone and the Producer Price Index (PPI) in Germany will be closely watched. Technically, analysts indicated that the BIST 100 index had resistance levels at 10,100 and 10,200 points, with support levels at 9,800 and 9,700 points.
According to a survey conducted by AA Finance, all economists expect the TCMB to keep the policy rate steady at 50% in August. The average year-end policy rate expectation among economists is calculated at 46.50%.
