HSBC highlights Türkiye’s policy discipline and healthy reserves as key factors stabilizing assets amid volatility and rising oil costs.
Turkish assets have weathered volatility from political uncertainty and higher oil prices, with the MSCI Türkiye Index maintaining stability. The country’s status as a net oil importer has pressured reserves, but gold price gains have bolstered international reserves, supporting a managed lira float.
Since mid-2023, Türkiye’s central bank has adopted an orthodox monetary policy, prioritizing high interest rates to curb inflation. This disciplined approach has acted as a market anchor, offsetting domestic political noise and external pressures.
The resilience reflects broader trends in emerging markets, where policy credibility and reserve strength are increasingly critical for asset performance.