CBRT announces year-end dollar and inflation expectations

The Central Bank of the Republic of Türkiye (CBRT) has shared the results of its January Market Participants Survey.

According to the market participants who took part in the survey, the current year-end Consumer Inflation (CPI) expectation was 42.04%. The 12-month ahead CPI expectation, which was 41.23% in the previous survey, has been set at 39.09% in the current survey. Furthermore, the 24-month ahead CPI expectation was recorded at 23.69% in the current survey, compared to 24.82% in the previous one.

The expectation for the overnight interest rate in the BIST Repo and Reverse-Repo Market at the end of the current month was 45.00%, compared to 42.47% in the previous survey. The expectation for the CBRT's one-week repo auction interest rate at the end of the current month was 45.00%, compared to 42.50% in the previous survey.

According to exchange rate expectations, the participants' year-end US Dollar/TL expectation was 40.00 TL. The 12-month ahead exchange rate expectation was set at 40.64 TL in the current survey, compared to 39.46 TL in the previous one.

The participants' GDP growth expectation for 2024 was recorded at 3.4% in the current survey, compared to 3.3% in the previous one. Additionally, the GDP growth expectation for 2025 was set at 3.9% in this survey.