
BIST Volatile as IMF Growth Cut and S&P Watchlist Weigh on Sentiment
The week of July 13-20, 2026 featured continued volatility in Turkish equities amid the lingering impact of the IMF's July 8 downgrade of its 2026 GDP forecast to 2.9%. S&P Dow Jones placed Turkey on a watchlist for potential frontier-market status downgrade. Progress toward a one-year Ceyhan oil pipeline agreement with Iraq provided some positive backdrop, while the central bank held its policy rate at 37% ahead of the July 23 meeting. Investors monitored data-dependent policy and external risks.