Central Bank survey shows markets forecast year-end US dollar/TL rate at 5.9663

In the most recent expectation survey conducted by the Central Bank, the year-end dollar expectancy is observed to have risen from 4.8328 to 5.9663. Based on results in same survey the inflation expectation is seen to have increased to 16.45 percent from 13.88 percent.

While the current year-end TÜFE (Consumer Price Index) expectation was 13.88 percent in the previous survey period, it increased to 16.45 percent in this survey period. The 12 months TÜFE expectation which was 11.07 percent in the previous survey period increased to 12.96 percent in this survey period.

Judging on the current major issues the Turkish economy has to cope with above figures could even end up at higher levels. However, if the administration in charge of  economy succeeds to radiate the message of “reliability and stability” to foreign markets, Turkey could then do much better with its performance in economy and end up with more promising indicators at the end of the term.

The team in charge of economy is led by Mr. Berat ALBAYRAK and they seem to have managed to send across the message “Turkey is determined to recover and improve its economy in the shortest time possible, keeping committed to fiscal discipline”.

The good news awaited may take time and much effort as Turkey has to cope with the onslaught from the USA and its president in specific to harm its economy. But, thankfully the Turkish banking system is strong with enough experience from past crisis in 2001 and is able to take up the challenge.