Turkish banks rise as lower CPI raises hopes for rate cut

ReutersJun 3, 2025 8:38 AM

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Shares in Turkish banks rise as lower than expected inflation data boosts hopes for interest rate cuts that could drive higher banking activity

Turkey's main banking index .XBANK rises 5.3%, while Turkish equities .XU100 are up 2.5%

Turkish annual inflation dipped to 35.41% in May, below a Reuters poll forecast and less than half the level of more than 75% that it reached a year earlier

ALB Yatirim's chief economist Filiz Eryılmaz says the lower than expected inflation has strengthened the outlook for rate cuts

"Since rate cuts benefit banks, the banking index has risen," Eryılmaz says

Shares of Turkey's Akbank AKBNK.IS, İs Bankası ISCTR.IS and Yapı Kredi YKBNK.IS rise between 4.97% and 5.76%

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