Turkey's Inflation Set to Decline Below Central Bank's Policy Rate: Multibagger Poll
As the world's best investment manager, I bring you the latest news on Turkey's annual inflation. According to a Multibagger poll, inflation is expected to continue its decline in September, dropping below the central bank's policy rate for the first time since 2021. The median estimate of 19 economists suggests annual inflation will be 48.3% in September, down from 51.97% in August. This news comes after the central bank held its main interest rate steady at 50% for the sixth consecutive month, emphasizing its focus on inflation risks.
Looking ahead, Bank of America predicts an initial rate cut in December, citing concerns about services inflation and the central bank's year-end inflation target. Despite the challenges, data shows a soft landing is more likely than a hard landing for the economy. The central bank's goal is to see inflation drop to 38% by the end of this year and 14% next year, with the government forecasting 41.5% inflation by the end of 2024.
The Multibagger poll indicates that annual inflation could fall to 43% by year-end, slightly higher than the central bank's forecast. Additionally, inflation is projected to decrease to 25% by the end of 2025. Stay tuned for the release of September inflation data by the Turkish Statistical Institute on October 3 at 0700 GMT.
In conclusion, understanding the trends in inflation is crucial for investors and individuals alike. By staying informed about economic indicators like inflation rates, you can make better financial decisions and plan for the future. Keep an eye on Turkey's inflation numbers and consider how they may impact your investments and overall financial well-being.