MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds
MNI (LONDON) - Turkish household inflation expectations fell in September after increases in July and August, according to the TEBA survey.
Annual inflation expectations as of September 2024 were 109% compared with 113% in August. Year-end inflation expectations were 94%, compared with 96% the previous month, while 12-month forward inflation expectations dipped from 101% to 96% over the same period
The downward trend in inflation expectations mirrors that of the central bank’s Sectoral Inflation Expectations survey for September. However, in all cases the average was significantly higher, with household participants in Koc University’s survey seeing inflation around 20% above the level expected by those of the central bank in a year's time.
The Central Bank of the Republic of Turkey kept its policy rate at 50% in September. (See MNI CBRT WATCH: Rates On Hold, Sees Expectations Upside Risk)