The Central Bank of the Republic of Turkey (TCMB) published the ‘Market Participants Survey’ for the month of May, which was conducted with 48 participants consisting of real and financial sector representatives and professionals. The expectation of an increase in the Consumer Price Index (CPI), which was 2,86 percent last month, rose to 3,97 percent in this survey period. The expectation for an increase in CPI for the end of the current year increased from 46,44 percent to 57,92 percent. The 12-month CPI expectation rose from 28,41 percent to 33,28 percent, and the 24-month CPI expectation rose from 17,68 percent to 19,54 percent. While the year-end dollar/TL expectation of the participants was 17,57, the 12-month dollar/TL expectation increased from 17,84 to 18,47.
“IN CURRENT DEFICIT DIRECTION IS UP”
While the year-end current account deficit expectation, which was 27,5 billion dollars in the previous survey period, increased to 34,4 billion dollars in this period, the current account deficit expectation for the next year became 22 billion dollars. While the current year growth expectation of Gross Domestic Product (GDP) increased from 3,2 percent to 3,3 percent, the future year-on-year growth expectation was also maintained at 4 percent. Expectations regarding the TCMB's one-week repo auction rate for the end of the current month and for the next three months remained constant at 14,00 percent.