Year-End USD/TL Forecast Decreased

Year-end USD/TL forecast decreased. Central Bank of the Republic of Turkey Expectations Survey was published.

February results of the Expectation Survey conducted by the Central Bank of the Republic of Turkey (CBRT) have been published. The results of the said survey revealed that inflation expectations continue to decline after 12 and 24 months. While the current year-end consumer inflation (CPI) expectation was 11.15 percent in the previous survey period, it was seen that it was 11.23 percent in this survey period. According to the CBRT's survey, the 12-month ahead CPI expectation was 10.53 percent in the previous survey period, and 10.36 percent in this survey period. The 24-month ahead CPI expectation was recorded as 9.14 percent and 9.03 percent, respectively, during the same survey periods. In the said survey, it was seen that the USD/TL exchange rate expectation for the end of the year was 8.09 TL in the previous survey period, while it was 7.79 TL in this survey period. The exchange rate expectation after 12 months was 8.16 TL in the previous survey period, while it was recorded as 7.94 TL in this survey period. GDP growth expectation for 2021 was 3.9 percent in the previous survey period and recorded as 4.1 percent in this survey period. GDP growth expectation for 2022 was recorded as 4.3 percent in the previous survey period and this survey period.