ISTANBUL, November 13. /TASS/. Inflation in Turkey is expected to reach 30.04% by the end of 2026, according to a forecast by market participants surveyed by the country’s central bank in November.
In October, respondents had projected year-end inflation at 29.63%.
According to the national statistics institute, Turkey’s annual inflation rate stood at 29.7% in October. Central Bank Governor Fatih Karahan said on November 12 that the regulator expects inflation in the country to reach 29.5% by the end of this year.
Market participants expect the central bank’s key interest rate to stand at 35% by year-end. On October 22, the Turkish regulator lowered the rate by 100 basis points, from 37% to 36%. The Central Bank of Turkey is scheduled to announce its next interest rate decision in December.
The forecast for Turkey’s economic growth in 2026 remains unchanged from October at 2.9%. Various international institutions estimate that the country’s GDP will grow by 3.4-4% by year-end. The national currency is projected to trade at 51.61 Turkish liras per US dollar by the end of this year, compared with 51.55 a month earlier. As of the morning of November 13, the exchange rate stood at 50.36 liras per US dollar.
A total of 70 respondents participated in the survey, most of them representing the financial sector.