Breaking News: CBRT Announced Year-End Dollar and Inflation Forecast

According to the breaking news, the CBRT announced its year-end dollar and inflation forecast. CBRT announced its 2021 dollar forecast as 8.09 lira, while the inflation forecast was 11.5 percent. With 63 real sector and financial sector representatives and professionals, Central Bank of the Republic of Turkey (CBRT) announced the results of "2021 Expectations Survey in January ". The first highlight in the survey was the high dollar forecast.   What Happened to Inflation Expectations? The Central Bank's year-end consumer inflation (CPI) expectation was 11.15 percent in this survey period. 12-month ahead CPI expectation was 10.84 percent in the previous survey period, while it was recorded as 10.53 percent in this survey period. The 24-month ahead CPI expectation was recorded as 9.24 percent and 9.14 percent, respectively, during the same survey periods.   What Was The Dollar Forecast? The CBRT's year-end dollar expectation was 8.09 TL. The exchange rate expectation within 12 months was 8.37 TL in the previous survey period, and it was recorded as 8.16 TL in this survey period. In the survey, the high rate of US dollar drew attention.   What was the Expectation for Growth? The GDP growth expectation of the CBRT for 2021, which was 3.8 percent in the previous survey period, was corrected to 3.9 percent in this survey period. GDP growth expectation for 2022 was recorded as 4.3 percent in this survey period.