The Central Bank of Turkey slashed its one-week repo auction rate by another 75bps to 11.25 percent during its first policy meeting of 2020, defying market expectations of a 50bps cut. Policymakers have lowered rates for five consecutive times since July last year, bringing borrowing costs to the lowest level since May 2018, saying the inflation outlook continued to improve and inflation expectations sustained their wide-spread decline. The bank also said the current monetary policy stance remains consistent with the projected disinflation path.

Interest Rate in Turkey averaged 58.67 percent from 1990 until 2020, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013. This page provides the latest reported value for - Turkey Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Central Bank of the Republic of Turkey

Interest Rate in Turkey is expected to be 11.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Turkey to stand at 10.75 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 9.50 percent in 2020, according to our econometric models.


Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Turkey Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
11.25 12.00 500.00 4.50 1990 - 2020 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-09-12 11:00 AM TCMB Interest Rate Decision 16.5% 19.75% 17.25% 17.50%
2019-10-24 11:00 AM TCMB Interest Rate Decision 14% 16.5% 15.5% 15.5%
2019-12-12 11:00 AM TCMB Interest Rate Decision 12% 14% 12.5% 12.5%
2020-01-16 11:00 AM TCMB Interest Rate Decision 11.25% 12% 11.50% 12%
2020-01-30 07:30 AM CBRT Inflation Report


News Stream
2019-12-12
Turkey Cuts Interest Rates by 200bps
The Central Bank of Turkey slashed its one-week repo auction rate by another 200bps to 12 percent during its December meeting, defying market expectations of a 150bps cut. It follows a 250bps rate cut in October as inflation expectations displayed a wide-spread decline while the economic activity continues to improve. Policymakers also said that the current monetary policy stance is considered to be consistent with the projected disinflation path.

2019-10-24
Turkey Cuts Interest Rates to 14%, More Than Expected
The Central Bank of Turkey slashed its one-week repo auction rate by 250bps to 14 percent during its October meeting, more than market expectations of a 100bps cut. It follows a 325bps rate cut in September, as inflation outlook continues to improve amid a moderate recovery in economic activity. Inflation declined to single digits in October mainly due to a slowdown in cost of food and housing.

2019-09-12
Turkey Cuts Interest Rates by 325bps
The Central Bank of Turkey lowered its one-week repo auction rate by 325bps to 16.50 percent during its September meeting, against market expectations of a 250bps cut. It follows a 425bps rate cut in July as the inflation outlook continues to improve amid a moderate recovery in economic activity. Inflation dropped to 15 percent in August and is expected to fall briefly to single digits in October.

2019-07-25
Turkey Cuts Interest Rates by 425bps
The Central Bank of Turkey slashed its one-week repo auction rate by 425bps to 19.75 percent during its July meeting, more than market expectations of a 250bps cut, saying inflation outlook continued to improve as domestic demand conditions and the tight monetary policy continue to support disinflation. In addition, policymakers voiced concerns about rising protectionism and uncertainty regarding global economic policies.

2019-06-12
Turkey Holds Policy Rate at 24%
The Central Bank of Turkey held its one-week repo auction rate at 24 percent during its June meeting, saying that a tight monetary policy supports the disinflation process. Annual inflation fell to a nine-month low of 18.71 percent in May, easing further from October's 15-year peak of 25.24 percent after a currency crisis plunged the economy into its first recession in a decade.

2019-04-25
Turkey Leaves Policy Rate Unchanged at 24%
The Central Bank of Turkey left its one-week repo auction rate unchanged at 24 percent on April 25th 2019, as widely expected. Policymakers said that they will continue to use all available instruments in pursuit of the price stability objective. The Committee noted an improvement in inflation indicators, still factors including higher import and food prices and the elevated course of inflation expectations point to continued risks to price stability. The country's annual inflation rate rose to 19.71 percent in March from a six-month low of 19.67 percent in February, way above the central bank's midpoint target of 5 percent.


Turkey Interest Rate
In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). From June 1st 2018, the main interest rate is the one-week repo rate and the overnight borrowing and lending rates will be determined at 150 bps below/above the one-week repo rate. The central bank simplified its monetary policy framework on May 28th 2018 from a different system with four main key rates, with the late liquidity window lending rate being one of the most followed.

Turkey Money Last Previous Highest Lowest Unit
Interest Rate 11.25 12.00 500.00 4.50 percent [+]
Interbank Rate 9.99 9.99 28.52 4.74 percent [+]
Money Supply M1 712810443.70 677042326.70 712810443.70 55562063.00 TRY Thousand [+]
Money Supply M2 2457520373.10 2356055707.70 2457520373.10 236620702.00 TRY Thousand [+]
Money Supply M3 2575172746.40 2474389439.10 2575172746.40 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 141663.60 142344.70 150427.20 1240.00 USD Million [+]
Banks Balance Sheet 4308766747.00 4273581062.00 4345002487.00 15859.80 TRY Thousand [+]
Loans to Private Sector 1271016681.00 1265957020.00 1438571065.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 9.75 9.75 398.10 1.50 percent [+]
Private Debt to GDP 170.00 170.50 170.50 131.20 percent [+]
Lending Rate 12.75 13.50 2300.00 6.50 percent [+]
Cash Reserve Ratio 16.00 16.00 16.00 9.00 percent [+]
Central Bank Balance Sheet 779239847.00 777553685.00 858925152.00 9071.00 TRY Thousand [+]
Foreign Stock Investment 34884.00 33848.00 82048.00 0.00 USD Million [+]