CBRT October Market Participants Survey results concluded
According to the Central Bank's October survey results, the year-end inflation expectation increased, while downward changes were observed in exchange rate and current account deficit forecasts.
The results of the October Market Participants Survey, conducted by the Central Bank of the Republic of Turkey (CBRT) with 71 participants, have been announced.
The CBRT's October Market Participants Survey, conducted with 71 participants consisting of representatives from the real and financial sectors as well as professionals, has been published. Accordingly, the expectation for October CPI increase, which was 1.97 percent last month, rose to 2.11 percent in this survey period. While the year-end increase expectation in CPI rose from 29.61 percent to 29.63 percent and for 12 months ahead from 23.70 percent to 23.89 percent, it declined from 18.32 percent to 17.94 percent for 24 months ahead.
While the participants' year-end US dollar/TRY expectation fell from 51.5716 to 51.5471, the 12-month-ahead US dollar/TRY expectation rose from 58.6049 to 59.2596. The year-end current account deficit expectation, which was 50.1 billion dollars in the previous survey period, declined to 48.5 billion dollars, and for the next year, it dropped from 44.4 billion dollars to 43.8 billion dollars.
In the survey, the Gross Domestic Product (GDP) growth expectation for the current year fell from 3 percent to 2.9 percent, while it remained at 3.9 percent for the next year. The CBRT's policy rate expectation for the first meeting was 36 percent, while the expectation for the second meeting fell to 35 percent, for the third meeting to 34.35 percent, and the policy rate expectation for 12 months ahead declined to 29.01 percent.