Central Bank survey: Exchange rate of dollar to lira expected to surpass 8 by year-end

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The Central Bank has published its expectation survey for January, which it conducted with 63 participants from the real sector and financial sector professionals. 

Accordingly, the CPI expectation for 12 months later fell from 10.84 percent to 19.53 percent where the expectation for 24 months later fell from 9.24 percent to 9.14 percent.

The participants' expectation for the exchange rate of the US dollar to the Turkish lira declined from 8.37 to 8.08 for the year-end. The expectation for 12 months later stood at 8.16.

The year-end expectation for the current account deficit, which was 22.4 billion dollars in the previous survey period, rose to 24 billion dollars in this period. Next year's current account deficit expectation was calculated as 22.3 billion dollars.

While the Gross Domestic Product (GDP) growth expectation for 2021 increased from 3.8 percent to 3.9 percent, the growth expectation for 2022 stood at 4.3 percent.

The Central Bank's one-week repo auction interest rate was estimated as 17 percent and 13.28 percent, respectively, for the current month and 12 months ahead. (HA/VK)