Turkish market year-end inflation expectations lower, survey shows

ANKARA

The Turkish Central Bank's monthly survey of market participants on Friday found they expected a 65.39% rise in the year-end Consumer Price Index (CPI).

This was a downward revision from 67.23% in the previous survey.

Annual inflation was projected to ease 41.23% at the end of the next 12 months, revised downward from 43.94%.

Participants forecast the US dollar/Turkish lira exchange rate to hit 29.62 at end-2023, down from 30.00 as previously projected.

The rate is foreseen to rise to 39.46 at the end of the next 12 months.