The Central Bank of the Republic of Turkey (CBRT) published the Market Participants Survey for the month of May, which was conducted with 39 participants consisting of real and financial sector representatives and professionals.
The CPI increase expectation in May, which was 2.46 percent last month, decreased to 2.41 percent in this survey period. The expectation for an increase in CPI for the end of the current year was 37.17 percent.
Expectations for an increase in CPI decreased from 31.02 percent to 29.84 percent in 12 months, and rose to 17.74 percent from 17.54 percent in 24 months.
While the year-end dollar/TL expectation of the participants was 23.09, the 12-month dollar/TL expectation increased from 24.08 to 24.61.
The year-end current account deficit expectation, which was 37.75 billion dollars in the previous survey period, rose to 38.4 billion dollars in this period.
The current account deficit expectation for the next year was 26.1 billion dollars.
Policy rate expectation for the end of the current month 8.50 percent
For the current year, the Gross Domestic Product (GDP) increase expectation increased from 3.5 percent to 3.7 percent, and the growth expectation for next year increased from 4.4 percent to 4.6 percent.
The expectations for the CBRT’s policy rate for the end of the current month and for the next 3 months were determined as 8.50 percent.
The policy rate expectation for the next 12 months was 11.11 percent.
The interest rate decision will be announced on May 25.
On the other hand, the Central Bank, Monetary Policy Committee will announce the interest rate decision on Thursday, May 25. In the previous meeting, the bank kept the policy rate constant at 8.5 percent.
