Turkish banks rallied after the central bank lowered borrowing costs earlier than anticipated, paving a path to potentially deliver more interest-rate cuts before the end of the year. Assets soared after the central bank's surprise decision. The Borsa Istanbul Banks Index jumped as much as 4.1% before trading up 3.1% at 1:51 p.m. in [ADDRESS].

It is headed for its highest close since July 16. The broader BIST 100 Index was up 0.1%.