Inflation and exchange rate forecasts rise

Dünya Executive - - OVERVIEW -

According to the results of the Central Bank’s regular survey of 66 sector representa­tives and profession­als, growth expectatio­ns have fallen while expectatio­ns on end-2018 nflation and the USD/TRY exchange rate have risen. Expectatio­ns for Turkey’s end-2018

CPI nflation rate rose to 12.28 percent in June from 11.07 percent in May. Survey respondent­s also said that they expected the USD/TRY rate to reach 4.58 at the end of this year, a significan­t weakening from the 4.43 anticipate­d in the May survey. Respondent­s also forecast that GDP growth will be 4.2 percent this

year, lower than the 4.6 percent foreseen in May. According to the Central Bank survey, Turkey’s end-2018 current account deficit expectatio­ns remained constant at $53.5 billion from April to May.

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