Year-end dollar outlook up according to Central Bank survey of market participants

According to the “survey of market participants” conducted by Central Bank of Turkey (CBRT), the dollar/TL expectation at the end of the year increased from 8.95 to 8.99, while the dollar/TL expectation after 12 months was 9.34.

The central bank published a “survey of market participants”for July, which it conducted with 56 participants consisting of representatives of the real and financial sectors and professionals.

Based on said survey, the dollar/TL expectation at the end of the year increased from 8.95 to 8.99, while the dollar/TL expectation after 12 months was 9.34.

The CPI forecast for July, which was 0.75 percent last month, rose to 1.17 percent during that survey period. The current year-end CPI expectation was 15.64 per cent, up from 14.46 per cent in the previous survey period. The CPI expectation increased from 12.12 to 12.62 percent for the end of next 12 months and from 10.16 percent to 10.43 percent for the next 24.

The year-end current account deficit, which was $ 25.7 billion in the previous survey period, fell to $ 24.7 billion in this period. Next year’s current account deficit fell from $ 22.4 billion to $ 21.3 billion.