Central Bank announces year-end inflation and dollar forecasts!
According to the Central Bank of the Republic of Turkey (TCMB) Survey of Market Participants, the year-end expectation for the increase in the Consumer Price Index (CPI) has decreased from 28.30 percent to 28.04 percent.
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The TCMB has published its March Survey of Market Participants, conducted with 68 participants consisting of representatives from the real and financial sectors as well as professionals.
Accordingly, the expectation for the March CPI increase, which was 2.26 percent last month, rose to 2.27 percent in this survey period. The expectation for the current year-end CPI increase fell from 28.30 percent to 28.04 percent.
While the expectation for the CPI increase 12 months ahead fell from 25.26 percent to 24.55 percent, the expectation for 24 months ahead dropped from 17.26 percent to 17.06 percent.
Participants' year-end dollar/TL expectation decreased from 42.8869 to 42.7907, while the 12-month dollar/TL expectation rose from 43.9612 to 44.4165.
The year-end current account deficit expectation, which was 18.8 billion dollars in the previous survey period, rose to 19.4 billion dollars in this period. The current account deficit expectation for next year was 24.5 billion dollars.
CURRENT MONTH-END POLICY RATE EXPECTATION IS 42.50 PERCENT
While the Gross Domestic Product (GDP) growth expectation for the current year rose to 3.1 percent, it also increased to 4 percent for next year.
The current month-end expectation regarding the TCMB's policy rate was 42.50 percent, while the expectation for 3 months ahead fell to 37.70 percent.
The policy rate expectation for 12 months ahead also decreased from 28.92 percent to 27.60 percent.