Skip to content
Subscriber Only

Turkish Lira, Stocks Rally After Snap Election Reinforces Stability

  • Early election may end stimulus policies that stoked inflation
  • ‘Better the devil you know,’ says Ashmore Group’s Dehn
Video player cover image

Reasons Behind President Erdogan's Decision For Early Elections

Turkey’s lira and stocks led gains in emerging-market peers after President Recep Tayyip Erdogan’s surprise move to call early elections fanned expectations for political stability and the end of expansionary fiscal and monetary policies that stoked inflation.

The lira advanced 1.8 percent and the Borsa Istanbul 100 Index climbed the most since November as of 12:10 p.m. in New York. Government bonds in local and foreign currencies rose at least 1 percent.