Turkish market year-end inflation expectations lower, survey shows

Annual consumer price rise projected to hit 65.39% at end of 2023, according to Central Bank monthly survey of market participants

By Tuba Ongun

The Turkish Central Bank's monthly survey of market participants on Friday found they expected a 65.39% rise in the year-end Consumer Price Index (CPI).

This was a downward revision from 67.23% in the previous survey.

Annual inflation was projected to ease 41.23% at the end of the next 12 months, revised downward from 43.94%.

Participants forecast the US dollar/Turkish lira exchange rate to hit 29.62 at end-2023, down from 30.00 as previously projected.

The rate is foreseen to rise to 39.46 at the end of the next 12 months.

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