Central Bank’s expectations survey forecasts year-end dollar TL rate at 7.79

In the expectations survey of Central Bank, the year-end CPI forecast rose from 11.15 percent to 11.23 percent. On the other hand, dollar/TL forecast for 2021 fell from 8.09 to 7.79. February results based on “expectations survey” issued by the Central Bank of the Republic of Turkey, has shown that inflation expectations continue to decline.

In the Expectations Survey of the Central Bank of the Republic of Turkey (CBRT), the expectation of consumer inflation (CPI) at the end of the current year was 11.15 percent in the previous survey period, while in this survey period it became 11.23 percent.

The CPI expectation for next 12 months was 10.53 percent in the previous survey period, while it was recorded at 10.36 percent in this survey period.

The dollar/TL expectation at the end of the current year was TL 8.09 in the previous survey period, while it fell to TL 7.79 in this survey period. The expectation of the exchange rate in 12 months period was TL 8.16 in the previous survey period and it was calculated at TL 7.94 in this survey period.

GROWTH FORECAST RISES TO 4.1 PERCENT

GDP growth forecast for 2021 was 3.9 percent in the previous survey period, while it was calculated at 4.1 percent in this survey period. GDP growth forecast for 2022 was 4.3 percent in the previous survey period and in this survey period.