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. Interest Rate in Turkey averaged 58.88 percent from 1990 until 2019, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013.
Interest Rate in Turkey is expected to be 24.00 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 19.00 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 11.50 percent in 2020, according to our econometric models.