USD / TL dips year-end forecast from 8.09 to 7.79 by Investing.com


© Reuters.

Investing.com – CBRT published the February report of the Expectation Survey, which includes inflation, exchange rate, interest and growth forecasts with representatives from the real sector and financial sector on a monthly basis. According to the report, while both the exchange rate and inflation expectations decreased in February, the growth expectation increased.

2021 year-end forecast:

While it was 11.15 percent in the previous survey period, it became 11.23 in this survey period. While the 12-month ahead CPI expectation was 10.53 percent in the previous survey period, it became 10.36 percent in this survey period. The 24-month ahead CPI expectation was realized as 9.14 percent and 9.03 percent, respectively, during the same survey periods.

Interest expectation:

While the current month-end overnight interest rate expectation in the BIST Repo and Reverse-Repo Market was 17.09 percent in the previous survey period, it became 17.04 percent in this survey period. The CBRT Weighted Average Funding Cost expectation for the current month was 17.00 percent in the previous survey period and this survey period. The CBRT’s one-week repo auction interest rate expectation for the end of the current month was 17.0 percent in the previous survey period and this survey period. The secondary market annual compound interest rate expectation of 12 months after maturity of GDSs, which is five years or nearly five years to maturity, decreased from 12.59 percent in the previous survey period to 12.37 percent in this survey period. On the other hand, the secondary market compound interest rate expectation after 12 months of GDBIs, whose maturity is ten years or close to ten years, were realized as 12.30 percent and 12.05 percent, respectively, during the same survey periods.

Dollar rate expectation:

The current year-end expectation was TL 8.09 in the previous survey period, while it was 7.79 TL in this survey period. The exchange rate expectation after 12 months was 8.16 TL in the previous survey period, while it was 7.94 TL in this survey period.

Growth prospect:

While the growth expectation for GDP for 2021 was 3.9 percent in the previous survey period, it was 4.1 percent in this survey period. GDP growth expectation for 2022 was 4.3 percent in the previous survey period and this survey period.

Author: Necdet Erginsoy

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Check Also

Compromise on infrastructure spending, recovery in Europe, Bitcoin – What’s going on in the markets? By Investing.com

© Reuters. Author: Peter Nurse Investing.com – Crude oil rising on Capitol Hill consensus on …

Leave a Reply

Your email address will not be published. Required fields are marked *