Turkish Central bank drops year-end CPI to 6.98 percent

Central Bank revises year-end CPI down to 6.98 pct.

Turkish Central Bank revised the year-end consumer prices index down to 6.98 percent in its second term survey of expectation for July 2012.

The year-end CPI had been 7.02 percent in the first term survey for July 2012 of the Central Bank.

The bank’s expectation for year-end current account deficit dropped to 63.4 billion USD from 63.8 billion USD.

Expectation for the year-end USD exchange rate rose to 1.8117 Turkish lira from 1.8052 TL.

Gross domestic product expectation remained at 3.6 percent. 

The aim of the Survey is to find out the expectations of experts and decision makers from the financial and real sectors and professionals, pertaining to CPI inflation, interest rates, exchange rate, current account balance and GNP growth rate.

The Survey is conducted twice a month, in the first and third weeks of every month.

21.07.2012
SOURCE: CUMHURIYET ENGLISH