The central bank yesterday announced the second edition of the February Survey of Expectations. According to bank data, the year-end inflation rate expectation for this year has increased to 6.64 percent, while the rate was 6.56 percent in the first edition of the February Survey of Expectations. The inflation expectation was 7.55 percent in the second edition of February 2010.
Moreover, the Central Bank of Turkey’s report released yesterday stated that the Turkish gross domestic product (GDP) growth rate is expected to reach 5 percent at the end of this year. The central bank also noted that the year-end inflation expectation rate of 2012 was 4.9 percent.
Current account deficit expectations were also outlined in the recent central bank report; the 2011 year-end current account deficit is expected to be $48.55 billion, while it was anticipated at $49.37 billion in the first edition of the February Survey of Expectations.
