Borsa İstanbul opens higher amid US inflation trends and Middle East developments

Global markets are reacting to moderate US inflation data and ongoing geopolitical uncertainties in the Middle East. In the United States, July's Consumer Price Index (CPI) rose 0.1% monthly and 3.4% annually, aligning with market expectations. This trend has strengthened views that inflation is slowing, reducing the likelihood of Federal Reserve interest rate hikes in the near term.

In Turkey, Borsa İstanbul (BIST 100) opened the session positively following a strong rally. The index rose approximately 0.10% at the opening to reach 14,124.18 points. Meanwhile, Central Bank of the Republic of Türkiye Governor Fatih Karahan updated inflation forecasts, raising the year-end 2026 projection to 28%, while anticipating a decline to 15% by the end of 2027 and 9% by the end of 2028.

Geopolitical developments include reports that the US and Iran may have reached an agreement to extend a 60-day ceasefire under the Islamabad Accord, which is set to expire on August 17. However, optimism remains tempered by the lack of definitive official statements regarding a permanent Middle East ceasefire.