End-year inflation expectations rose, for a second consecutive month, to 7.29% y/y in April from 6.98% y/y in March, the Central Bank said on April 17.
Participants of the Central Bank’s monthly expectations survey also revised up their 12-month ahead inflation expectations from 6.78% to 6.91%. Consumer prices are expected to increase 0.85% m/m in April, higher than the previous month’s estimate of 0.73% for April.
GDP growth expectations for 2015 were cut to 3.1% in April from a previous 3.3%. The country’s current account deficit is expected to be $37.9bn at the end of 2015 whereas the previous estimate was $39.4bn.
| Central Bank Expectations Survey | |||||||
| Oct | Nov | Dec | Jan | Feb | Mar | Apr | |
| End-Year Inflation (%) | 9.16 | 9.22 | 9.02 | 6.82 | 6.77 | 6.98 | 7.29 |
| 12-Month Ahead Inflation (%) | 7.54 | 7.50 | 7.21 | 6.81 | 6.69 | 6.78 | 6.91 |
| End-Year Current Account Deficit ($ bn) | -47.8 | -46.7 | -44.6 | -41.4 | -40.3 | -39.4 | -37.9 |
| End-Year GDP Growth (%) | 3.2 | 3.2 | 3.0 | 3.4 | 3.5 | 3.3 | 3.1 |
| Source: tcmb |
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