Experts: Central Bank’s dollar/TL forecast for end of next 12 months alarming

The year-end dollar / TL expectation was increased from 9.22 to 9.98 in the Central Bank of the Republic of Turkey survey. According to the survey result, the exchange rate expectation after 12 months was described as “an alarming level”…

The Central Bank of the Republic of Turkey (CBRT) has announced the data of the November market participants survey. According to the results of the survey, the year-end dollar / TL expectation which was in October 2021, increased to 9.98 in November survey.

The expectation of the exchange rate after 12 months was 10.01 in the previous survey and went up to 10.93 in this survey period.

INFLATION EXPECTATIONS

The CPI expectation after 12 months was 13.91 percent in the previous survey period and went up to 15.61 percent in this survey period. The CPI expectation after 24 months was 11.27 percent and 11.76 percent, respectively, during the same survey periods.

EXPECTATIONS HAVE ALREADY BEEN EXCEEDED

Inflation was higher than the year-end expectation in November, while the dollar/ TL exchange rate saw a historic peak of 9.98 today.