Central Bank slightly ups year-end inflation forecast

ISTANBUL - Anatolia News Agency

Turkey’s Central Bank increased the year-end consumer prices index to 7.66 percent in its second term survey of expectations for May 2012. The figure had earlier stood at 7.62 percent.

Meanwhile, the year-end current account deficit, which was $65.5 billion in the first term survey, dropped to $65 billion in the second term survey.

Expectation for the year-end exchange rate rose to 1.8016 Turkish Liras per dollar. It was 1.7912 TL in the first term survey.

Gross domestic product, which had been 3.6 percent in Central Bank’s first term survey, rose to 3.7 percent in the second term survey.