CBRT September Market Participants Survey results announced
According to the Market Participants Survey results, while year-end inflation and exchange rate expectations shifted upward, growth forecasts declined.
The Central Bank of the Republic of Türkiye has published the results of the September Market Participants Survey. According to the research results, inflation forecasts rose while growth expectations were revised downward.
Change in Inflation Expectations
The expectation for September CPI increase, which was 2.08 percent last month, rose to 2.12 percent.
The year-end inflation expectation increased from 29.43 percent to 29.61 percent.
The twelve-month-ahead CPI expectation rose from 23.69 percent to 23.70 percent.
The twenty-four-month-ahead inflation expectation reached 18.32 percent from 18.03 percent.
Exchange Rate and Growth Forecasts
Participants' year-end US dollar/TRY expectation showed a limited decline from 51.6567 to 51.5716.
The twelve-month-ahead US dollar/TRY expectation rose from 57.4278 to 58.6049.
The GDP growth expectation for the current year experienced a decline to the 3 percent level.
The growth forecast for next year was lowered from 4 percent to 3.9 percent.
Current Account Deficit and Interest Rate Expectations
The year-end current account deficit expectation declined to the level of 50.1 billion dollars.
The expectation for the CBRT policy rate at the first meeting remained constant at 37 percent.
The twelve-month-ahead policy rate expectation declined to 29.22 percent.