Summary: The Central Bank of Turkey’s (TCMB) Market Participants Survey for October 2025 shows a significant deterioration in inflation expectations following a stronger-than-expected September CPI print. Both short- and medium-term inflation forecasts were revised higher, suggesting Turkey is unlikely to close the year below the 30% threshold. Market participants also expect the central bank to … Continue reading ANALYSIS: Inflation Expectations Deteriorate Sharply as TCMB Survey Signals Upward Risks