Central bank updates annual inflation forecast

In its June Market Participants Survey, the central bank released the results showing a slight adjustment in the year-end inflation forecast from 43.64% to 43.52% and a decrease in the dollar forecast from ₺38.78 TL to ₺37.75.

Dollar forecast

The year-end dollar expectation decreased from ₺38.78 to ₺37.75. The 12-month forward exchange rate expectation, previously at ₺41.80, was set at ₺41.41 for this survey period.

Interest rate expectations

The overnight interest rate expectation at the BIST Repo and Reverse Repo Market decreased from 51.51% in the previous survey period to 50.77% in this period. The CBRT one-week repo auction interest rate expectation for the end of the current month remained unchanged at 50%.

Annual growth expectations

The gross domestic product (GDP) growth forecast for 2024 remained at 3.3% from the previous survey period. The GDP growth forecast for 2025 also remained unchanged at 3.7%.