Central Bank August Expectation Survey Results Published

Central Bank August Expectation Survey Results Published

Monthly; The results of the Central Bank's expectation survey, conducted with 90 participants, 67 of whom are financial sector, 10 of which are real sector and 13 of which are professionals, have been published. According to the August survey, the year-end dollar expectations increased. Inflation Expectations The current year-end consumer inflation (CPI) expectation also increased compared to the previous survey period. Expectation, which was 10.22 percent in the previous survey period, reached 10.82 percent. 12-month ahead CPI expectations; from 9.33 percent to 9.70 percent 24-month ahead CPI expectation ; 8.58 percent came out of 8, 38. Interest Expectations The current month-end overnight interest rate expectation in the BIST Repo and Reverse-Repo Market decreased from 7.98 percent in the previous survey period to 9.79 percent in this survey period. CBRT Weighted Average Funding Cost expectation for the end of the current month also increased from 7.74 percent to 9.43 percent, respectively. The CBRT's one-week repo auction interest rate expectation for the end of the current month was recorded as 8.25 percent and 8.43 percent, respectively, during the same survey periods. Exchange Rate Expectations The current year-end exchange rate (USD / TL) expectation showed a significant increase compared to the previous survey period. The expectation, which was 7.02 in the previous survey period, rose to 7.68 in August. The exchange rate expectation after 12 months was recorded as 7.68 TL. In the previous survey period, this expectation was announced as 7.26 TL. GDP (Gross Domestic Product) Growth Expectations While the GDP growth expectation for 2020 was -1.3 percent in the previous survey period, it decreased to -1.6 percent in the August survey.      

Source: Central Bank of the Republic of Turkey