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The world-renowned bank has changed its year-end dollar and inflation forecast for Turkey.
The world-renowned bank has changed its year-end dollar and inflation forecast for Turkey.

09.07.2024 14:01

The world-renowned British bank HSBC has released its analysis on the Turkish economy. The bank, which announced its dollar forecast for the end of the year as 36 TL, lowered its 2024 year-end inflation forecast from 48% to 44.6% and its 2025 forecast from 29% to 27.7%.

The economists of the English bank HSBC have updated their growth and inflation forecasts for Turkey without disrupting the current HTML. The bank raised Turkey's 2024 growth forecast from 3.1% to 3.8%, while the 2025 growth forecast remained at 3.6%.

INFLATION FORECAST LOWERED

HSBC stated that they have recently revised their inflation forecasts downward compared to June, lowering their expectations for the end of 2024 from 48% to 44.6% and for 2025 from 29% to 27.7%.

NO EXPECTATION OF INTEREST RATE INCREASE

In their evaluation, the bank stated, "Our basic scenario regarding monetary policy continues to be that interest rates will remain unchanged throughout the year. According to our forecasts, the real policy rate will be quite positive as of November, but we believe that the interest rate cuts, which will start in the 4th quarter, may be a bit early for now."

YEAR-END DOLLAR FORECAST

The year-end dollar/TL forecast of the bank is also quite remarkable. The bank predicts that the current exchange rate of 32.78 TL will reach 36 TL by the end of the year.


 
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