Turkish CB Survey: Year-end inflation expectation up to 13.88 pct.

Hilal Sarı / Istanbul, July 19 (DHA) – The inflation expectation for year end rose from 12.28 percent up to 13.88 percent in Turkish Central Bank’s monthly Survey of Expectations.

According to July Survey of Expectations, answered by 66 participants from real and financial sector representatives and professionals;

• Year end Consumer Price Index (CPI) expectation rose from 12.28 to 13.88
• Year end dollar/lira expectation rose from 4.58 to 4.83 lira
• Year end current accound deficit expectation rose from 53.5 billion dollars to 54.8 billion dollars
• Year end GDP growth expectation remained as 4.2 percent as in June survey results.
• Dollar/lira expectation for the end of the next 12 months rose from 4.78 lira to 5.06 lira.
• CPI expectation for the end of the next 12 months rose from 10.47 to 11.07 percent.
• CPI expectation for the end of the next 24 months rose from 9.18 to 9.54 percent.
• Current accound deficit expectation for 2019 declined from 50.6 billion dollars to 50.3 billion dollar.s
• 2019 growth expectation declined from 4.1 percent to 4.0 percent.
• Overnight lending interest rate expectations rose from 17.23 to 18.22 by the end of month, ahead of Turkish Central Bank monetary policy desicion on Jul 24
• Average Funding rate on the other hand is expected to rise up from 17.67 to 18.32 by the end of months.