Dollar and Inflation Forecasts Announced

Central Bank of the Republic of Turkey (CBRT) for the month of June market participants survey announced the results. The results announced are not very encouraging. Inflation and dollar rate expectations of the CBRT market participants for the end of the year increased compared to the previous month. Let’s take a look at the statements made.

According to the estimations from the CBRT’s survey with market participants, inflation at the end of 2022, 64.59 percent will be recorded as This number was 57.92 percent in the previous month’s survey. With this; year-end dollar rate forecasts rose to 18.89 TL. Let’s point out that this forecast was 17.57 TL in the previous month, but as of the writing of this article, the dollar/TL parity is at 17.32 levels.

There is an increase in growth expectations

According to the participants, Turkey’s gross national product growth (GDP) is for the end of the year. as 3.5 percent is estimated. In other words, the growth in Turkey will continue at the end of the year. When we look at the previous survey period, we see that there is an estimate of 3.3 percent growth. So in Turkey growth prospects has also increased.

Here are some important results in the CBRT statements

• Year-end inflation expectations: 64.59 percent
• June 2023 inflation expectation: 33.28 percent
• Year-end dollar rate expectation: 18.89 TL
• June 2023 dollar rate expectation: 20.70 TL
• Year-end GDP growth expectation: 3.5 percent
• GDP growth expectation by the end of 2023: 3.8 percent