Market Survey: Increase in Inflation and USD/TRY Expectations
Market expectations for year-end inflation and USD/TRY exchange rate have risen. The Central Bank has released a survey of market participants for the month of September. According to the survey, market expectations for year-end inflation and the USD/TRY exchange rate have increased.
INFLATION EXPECTATIONS
Participants’ expectations for the year-end Consumer Price Index (CPI) inflation, which was 59.46% in the previous survey period, have risen to 67.22% in this survey period.
Expectations for CPI inflation 12 months from now, which were 42.01% in the previous survey period, have increased to 44.94% in this survey period. Expectations for CPI inflation 24 months from now have also risen from 22.54% to 23.87%.
USD EXPECTATIONS
Participants’ expectations for the year-end exchange rate (USD/TRY) in the current year, which was 29.82 TL in the previous survey period, have risen to 30.14 TL in this survey period.