Here is the dollar, interest and inflation forecast

SAFAKNA TURKEY – The Central Bank (CBRT) published the results of the January survey of market participants.

Based on the results of the survey, which was answered by 41 participants, consisting of representatives and specialists from the real and financial sectors, the current consumer inflation (CPI) expectation at the end of the year was 32.46 percent during this study period.

The current year-end exchange rate (USD/TL) expected by participants was 23.12 TL during this survey period. While the expected exchange rate after 12 months was TL 22.77 in the previous study period, it became TL 23.43 in this study period.

INFLATION EXPECTATIONS

While the expectation for the 12-month CPI was 34.92 percent in the previous study period, it has become 30.44 percent in this study period. Participants’ expected consumer inflation (CPI) at the end of the current year was 32.46 percent during this survey period.

The CPI expectation after 24 months decreased to 20.56% and 17.18%, respectively, over the same study periods.

PERCENT EXPECTATION

While the current month-end overnight interest rate expectation by BIST repo and reverse repo market participants was 9.18 percent in the previous study period, it became 9.08 percent in this study period.

The expected weekly repo rate of the Central Bank of the Russian Federation at the end of the current month was 9 percent in this study period, as in the previous study period.

According to the survey, the expected growth for 2023 is 4.1 percent; For 2024, it was 4.3 percent.