Turkish Central Bank revises inflation forecast

Stock Market Graph next to a 10 dollar bill (showing former president Hamilton). Red trend line indicates the stock market recession period - Görsel
Turkish Central Bank revises inflation forecast

Turkish Central Bank (CBRT) expects Turkey’s year-end inflation to reach 16.68 pct in 2019 while year-end USD/TRY expectation rose from 6.2030 to 6.431, the bank said in its survey of expectations. If we look at the USD/TRY parity on Thursday, if the 5.9850 level is broken, the parity can see prices fall to 5.9580 and then to 5.9245 support. The country’s consumer prices increased 19.50 percent in April, marking a rate below market expectations. It fell from 19.71 percent the previous month. On Thursday, if the parity break the 6.0240 level above, purchases may be made first to 6.0380 and then to 6.0840.