Central Bank September Market Participants Survey Results
According to the CBRT September Market Participants Survey data, changes occurred in year-end inflation and exchange rate expectations.
The Central Bank of the Republic of Turkey published the results of the September Market Participants Survey, conducted with 67 participants from the real and financial sectors.
Inflation Expectations
According to the CBRT's September survey results, the expectation for the September CPI increase, which was 2.08 percent last month, rose to 2.12 percent in this period. The year-end CPI increase expectation went up from 29.43 percent to 29.61 percent.
Future Inflation Forecasts
While the CPI increase expectation for 12 months ahead rose from 23.69 percent to 23.70 percent, the expectation for 24 months ahead increased from 18.03 percent to 18.32 percent.
Exchange Rate Expectations
Participants' year-end dollar/TRY expectation declined from 51.6567 to 51.5716, while the 12-month-ahead dollar/TRY expectation increased from 57.4278 to 58.6049.
Current Account Deficit
The year-end current account deficit expectation, reported as 50.2 billion dollars in the previous survey period, decreased to 50.1 billion dollars, and for the next year, it dropped from 44 billion 444 million dollars to 44 billion 368 million dollars.
Growth Forecasts
In the survey, the Gross Domestic Product growth expectation for the current year fell to 3 percent, while the growth forecast for the next year declined from 4 percent to 3.9 percent.
Policy Rate Forecasts
The CBRT's policy rate expectation for the first meeting was 37 percent, while the expectation for the second meeting was 36 percent, the expectation for the third meeting was 35.07 percent, and the interest rate expectation for 12 months ahead was 29.22 percent.