Turkish CB expects year-end consumer inflation as 7.20%

Turkish Central Bank expects year-end consumer inflation as 7.20 percent in the survey of expectation for July. According to the survey, consumer price index expectation (TUFE) for July, 2013 was 0.13%, while it was 0.11% in previous survey term. Consumer price index expectation (TUFE) for August was respectively 0.31% and 0.30% in the same survey periods. TUFE expectation for September was posted as 0.71% in this survey period. Current year-end TUFE expectation raised as 7.20% in this survey period while it was 6.53% in previous period. In this survey period, TUFE expectation after 12-months and 24-months became respectively 6.45% and 6.13%. - Expectations of exchange rate- Expectation of year-end exchange rate (USD/TL) for 2013 was 1.88 TL in the previous period while it was 1.93 TL in this survey period. Expectation of exchange rate after 12-months was posted as 1.95 TL while it was 1.98 TL in previous survey period. - Expectations of current account balance-      Expectation of current account deficit for 2013 became 59.3 billion USD in this survey period, while it was 60.1 billion USD in the previous period. Expectation of current account deficit for 2014 was posted as 62.2 billion USD. - Growth expectations- Growth expectation for gross domestic product (GDP) of 2013 decreased to 3.6% in this survey period, while it was 3.9% in the previous period.