Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Moody’s Ratings has upgraded Turkiye’s long-term foreign and domestic currency issuer ratings from B1 to Ba3, revising the outlook to stable. The upgrade highlights improved economic management, particularly the central bank’s commitment to monetary policies that are reducing inflation and restoring investor confidence in the Turkish lira.
Inflation in Turkiye fell sharply to 35% in June 2025 from 72% a year earlier. Moody’s forecasts inflation will ease further to about 30% by the end of 2025 and drop to around 20% in 2026. The rating agency credited the central bank’s decisive measures, including significant interest rate hikes and tighter liquidity during market pressures in early 2025, for stabilizing the lira.
Turkiye’s external position has also strengthened. The current account deficit narrowed to 0.9% of GDP in the 12 months to March 2025, down from 5.4% in March 2023. Real GDP growth is expected to slow to 2.2% in 2025 from 3.2% in 2024, before recovering to 3.2% in 2026 as reforms take effect.
The stable outlook reflects balanced risks. Continued structural reforms and consistent policy execution could further enhance Turkiye’s external resilience, while any reversal toward unorthodox policies could reintroduce vulnerabilities.
Moody’s also raised Turkiye’s local-currency ceiling to Baa3 and its foreign-currency ceiling to Ba2, signaling improved credit conditions and reduced risk of capital controls. The rating upgrade is expected to bolster Turkiye’s appeal to global investors and support future borrowing efforts in international markets.
This marks Turkiye’s highest credit rating since its policy overhaul, signaling growing optimism about the country’s economic trajectory.
