CBRT September Market Participants Survey: Year-End CPI Expectation Rises

The Central Bank of the Republic of Turkey (CBRT) has published its September Market Participants Survey. According to the survey, market participants' year-end Consumer Price Index (CPI) increase expectation was revised upwards compared to the previous period. The participants' year-end CPI increase expectation rose to 29.61% in the September survey, up from 29.43% in the previous survey period. This development indicates a limited deterioration in inflation expectations. The Market Participants Survey stands out as an important indicator that the CBRT takes into account in its monetary policy decisions and inflation targeting regime. The survey results are followed for reflecting market players' perceptions regarding price stability. This upward update in the year-end inflation expectation may also affect expectations regarding the future monetary policy stance. The CBRT had stated in previous announcements that it closely monitors deviations in inflation expectations and will take necessary policy steps. Not investment advice.