Turkish inflation projected to drop to 29.86% by 2025 end: CBRT survey
Turkish inflation is projected to drop to 29.86 per cent by the end of this year, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed.
That is down from 30.35 per cent in the previous month's survey.
Inflation dipped to 35.4 per cent in May compared to around 75 per cent a year ago.
Turkish inflation is projected to drop to 29.86 per cent by the 2025 end, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed. That is down from 30.35 per cent in the previous month's survey. Markets see inflation 12 months from now falling to 24.56 per centâ€'down from 25.06 per cent in the previous survey.
Treasury and finance minister Mehmet Simsek last week cited stickiness in services inflation, which, he said, was preventing further improvement in headline consumer price inflation.
Markets see inflation 12 months from now falling to 24.56 per cent, the survey showed. That is down from 25.06 per cent in the previous survey.
The 24-month-ahead forecast eased to 17.35 per cent, down from 17.77 per cent.
Market participants expect the central bank to keep its benchmark one-week repo rate unchanged this week, but project a three-percentage-point cut in July.
They see the rate falling to around 40 per cent in September, before ending the year at around 36 per cent. A year from now, the key policy rate is estimated to be around 29 per cent.
Survey participants now expect the lira-dollar exchange rate to be 43.57 by the end of 2025, slightly below the previous forecast of 43.70. However, the 12-month ahead forecast for the exchange rate increased to 47.04, up from 46.62 in the last survey.
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