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Free AccessTurkish Bank Index Records Fresh All-Time High
- The Turkish Banking Sector index closed Tuesday's session marginally in the green, though recorded a fresh all-time high of 9892.6 earlier in the session. The index rallied an impressive 8.9% yesterday after BofA noted that "investor interest in Turkey has increased significantly and investors are eager to renew their views on Turkish banks after several years of disengagement."
- The Borsa Istanbul index, on the other hand, shed 1.06% during Tuesday’s session. Nevertheless, price remains above the 7700.00 handle which local newspaper Ekonomi have previously pointed to as a support level to watch.
- Minister of Treasury and Finance Mehmet Simsek and CBRT Governor Hafize Gaye Erkan are slated to participate in an investors' meeting organised by JP Morgan on January 11. Erkan will deliver a presentation titled "Monetary Policy and Inflation Outlook". Simsek will attend the meetings virtually.
- On Friday, Moody’s may provide an update to Turkey’s sovereign credit rating (Current rating: B3; Outlook: Stable).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.