CBRT Revised Year-End Inflation and Dollar Forecasts

CBRT Revised Year-End Inflation and Dollar Forecasts CBRT revised its year-end inflation and dollar forecasts. The Central Bank revised the forecasts with an increasing trend. Central Bank of the Republic of Turkey (CBRT), announced the "Survey of Expectations for October 2020". According to the announced results, the year-end inflation expectation was increased to 11.76 percent and the dollar expectation to 7.90. The current year-end consumer inflation (CPI) expectation was 11.46 percent in the previous survey period, it was realized as 11.76 percent in this period. While the CPI expectation after 12 months was 10.15 percent, it was increased to 10.53 percent, the 24-month ahead CPI expectation was increased from 8.86 percent to 9.05 percent. In the previous survey period, the current year-end dollar expectation was 7.60 TL, while it was 7.90 TL in this period's survey. After 12 months, the dollar rate expectation was revised from 7.94 to 8.31.   Growth Expectations Decreased While the growth expectation for 2020 was -1.5 percent in the previous survey period, it was -0.8 percent in this period survey. While the growth expectation for 2021 was 4.2, this rate was reduced to 4.1.