Markets Today: Inflation Data and Central Bank Decisions

Markets Today: December 19, 2025

Global market pricing continues to shape around decisions from central banks and inflation data. Notably, the November inflation data released from the US has laid the groundwork for a wider analysis of the economy.

US Inflation Data and Its Effects

The headline CPI for November was announced at 2.7% on a yearly basis, while the core CPI was reported at 2.6%. These figures indicate a cooling in inflation despite data collection disruptions during the government shutdown. This situation has led to a pullback in global bond market yields and a recovery in risk appetite.

Japan's Interest Rate Decision

The Bank of Japan raised its policy interest rate by 25 basis points to 0.75% in its final meeting of the year. This decision has reached the highest level in nearly 30 years. However, the market is now focused on the pace of future rate hikes and the final level.

European Central Bank's Growth Forecasts

The European Central Bank made limited upward revisions to growth and inflation forecasts while keeping interest rates steady. The ECB emphasized that economic growth would stem from domestic demand, while cautioning about global trade uncertainties.

Bank of England and Expectations

The Bank of England lowered its policy interest rate by 25 basis points to 3.75%. BoE Governor Bailey expressed satisfaction with the progress made in inflation and indicated that gradual rate cuts will continue during the process.

Commodity Market Situation

In the commodities market, short-term profit sales were observed in precious metals following the inflation data. Gold is trading close to historical highs, while silver continues its strong performance. Oil prices, meanwhile, are in a limited downward trend due to peace expectations related to the Russia-Ukraine war.

Current Status of BIST 100

Domestically, the BIST 100 index completed the fourth trading day of the week with a limited buying trend. The index closed at 11,335 points, up by 0.43%. Purchases emerging from the 11,250 level during the day provided support to the index. Investors are expecting to start the new day with a volatile trend alongside the positive atmosphere in global markets.

Macroeconomic Developments

To ensure financial stability, the leading indicators mentioned in the Monetary Policy Committee summary published by the Central Bank indicate a moderate outlook for December inflation. The rate of increase in rent prices is slowing, while the deterioration of market expectations is being monitored closely.

Highlighted Stocks

• Turkish Gold Enterprises (TRALT)
• TR Anadolu Metal Mining (TRMET)

The information provided here does not constitute investment advice.