Vice President Yılmaz's year-end forecast following October inflation: 'A little below, a little above'

Regarding a question on why the currency-protected deposit (KKM) scheme is not in the budget, Yılmaz said, "KKM accounts are on the Central Bank's balance sheet and have currently reached around one percent. We can say that the share of KKM in total deposits has more or less been liquidated. 

The Central Bank is already not allowing new accounts to be opened. Therefore, we can say that KKM has ended. 

If you recall, we had implemented KKM here, and we had passed the initial law as a temporary regulation. 

In other words, we did not design it as a permanent system when we created it. I am not saying it was wrong. It was a temporary necessity for that day. It had both costs and benefits. One must look at both the benefits and the costs," he stated.

"A LITTLE BELOW, A LITTLE ABOVE"

Evaluating inflation, Yılmaz said, "September inflation came in above expectations. Therefore, it has created a more cautious atmosphere for us regarding the year-end forecast. October inflation will be released on November 3. Once we see the October inflation, we will have the opportunity to estimate the year-end more accurately. 

But if you ask for my forecast, September was a somewhat unusual month. 

Therefore, I am among those who think it will return to a normal trajectory in October. But we will see, of course. I do not want to say anything more definitive about the year-end until I see the October figure. I express it this way: a little below 30, a little above," he said.

News Source: İHA