Participants in the Central Bank’s July Survey of Market Participants slightly raised their year-end inflation expectations while maintaining forecasts for the policy rate.
The survey showed on July 20 that participants’ year-end consumer inflation (CPI) expectation rose to 29.21 percent from 29.14 percent in the previous survey period.
Expectations for inflation 12 months ahead increased to 23.95 percent from 23.81 percent, while the 24-month-ahead inflation forecast declined to 17.83 percent from 18.29 percent.
Survey participants expect the Central Bank to leave its policy rate unchanged at 37 percent at this week’s Monetary Policy Committee meeting.
The year-end forecast for the U.S. dollar/Turkish Lira exchange rate rose slightly to 51.55 from 51.47 in the previous survey. The 12-month-ahead forecast increased to 56.69 from 55.72.
Participants revised down their 2026 GDP growth forecast to 3.1 percent from 3.2 percent in the previous survey period. The 2027 GDP growth forecast remained unchanged at 4.1 percent.
