Italy-based finance giant Unicredit made a striking prediction about Turkey. Officials, who made a new statement for the dollar rate as a result of the studies of bank analysts, stated that they expect the dollar/Turkish lira rate to rise to 10.5 by the end of 2021. The previous year-end forecast of the bank on this issue was 9.3. According to the Italian bank, the dollar rate will be 1.20 TL above the previous estimate by the end of 2021. . .
According to Unicredit, the year 2022 will not be very beneficial for Turkey. Because analysts think that the dollar-Turkish lira parity, which will appear at the end of next year, will be 11.8. Of course, this means a direct raise for citizens. If these predictions come true, we can already say that we will see a hike in every item from food to fuel over the next year.
Inflation forecast also rose
Unicredit’s only statement regarding Turkey is not about the dollar/Turkish lira exchange rate. Analysts also evaluated inflation in Turkey. According to the examinations, Italian financial experts think that inflation in Turkey will also increase. According to the new forecasts, 2021 year-end inflation will reach 19.6 percent. In the first half of 2022, we will see 20 percent. According to Unicredit, inflation in Turkey will decline to 16.3 percent at the end of 2022.
Unicredit thinks that the Central Bank of the Republic of Turkey will cut interest rates by 100 basis points in every meeting it holds until the end of the year. This will cause the Turkish lira to depreciate against the dollar and other currencies. According to the bank, Turkish authorities will implement some previously implemented measures to prevent the depreciation of the Turkish lira. . .
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