The Central Bank of Turkey hiked its benchmark one-week repo rate by 200 bps to 10.25 percent during its September meeting, surprising markets that had forecast the rate to remain unchanged. Policymakers said the decision aims to restore the disinflation process and support price stability as the lira has hit an all-time low. The central bank also said that economic activity is recovering markedly in the third quarter owing to gradual steps towards normalization and the strong credit impulse, while inflation rate has been higher than expected.
Interest Rate in Turkey averaged 58.48 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. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey is expected to be 10.25 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 9.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 9.50 percent in 2021 and 9.00 percent in 2022, according to our econometric models.