Global Markets Focus on US Consumer Inflation Data
As August CPI data is awaited in the US, Middle East-driven energy costs and rising bond yields are affecting markets. Meanwhile, the CBRT kept its policy rate constant at 37 percent.
Global financial markets have turned their attention to the US Consumer Price Index data for August, to be released today. While rising energy prices and producer inflation concerns cause a negative trend in markets, the Central Bank of the Republic of Turkey kept its policy rate constant at 37 percent.
US Inflation Data Awaited
Investors in global markets are focused on the US August Consumer Price Index data to be released today. Signals from the inflation data are expected to directly influence the Federal Reserve's future monetary policy steps.
Bond Yields and the Dollar Index
The US 10-year Treasury yield rose to 4.97 percent, seeing its highest level since October 2023. The dollar index stands at 99.1 with a 0.1 percent gain, and the upward movement in bond yields continues.
Middle East and Brent Crude Prices
Due to developments in the Middle East and targeted oil facilities, the barrel price of Brent crude hovers around 108 dollars. The increase in energy prices heightens inflation concerns globally.
Borsa İstanbul and CBRT Decision
In Borsa İstanbul, the BIST 100 index completed the day with a 0.77 percent loss at 14,393.85 points. On the other hand, the Central Bank of the Republic of Turkey Monetary Policy Committee kept the policy rate constant at 37 percent.