The Central Bank of Turkey held its benchmark one-week repo rate at 10.25 percent during its October meeting, surprising market expectations of a 175 basis points rate hike. At the same time, policymakers announced an adjustment to the monetary policy operational framework by setting the margin between the CBRT Late Liquidity Window lending rate and overnight lending rate as 300 basis points. The bank said that inflation has followed a higher-than-envisaged path as a result of fast economic recovery with strong credit momentum, and financial market developments; and that a significant tightening in financial conditions has been achieved, following the monetary policy and liquidity management steps taken to contain inflation expectations and risks to the inflation outlook. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey averaged 58.46 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. Turkey Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Interest Rate in Turkey is expected to be 12.00 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 10.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 10.50 percent in 2021 and 10.00 percent in 2022, according to our econometric models.