Turkey Interest Rate  1990-2017 | Data | Chart | Calendar | Forecast

The central bank of Turkey left its benchmark one-week repo rate at 8 percent on June 15th 2017 as widely expected. Policymakers noticed the economic recovery is gathering pace although inflationary risks persist. Yet, the inflation remained at double digits for the fourth month at 11.72 percent in May and food inflation reached the highest since 2010. The central bank added that a tight stance in monetary policy will be maintained until the inflation outlook improves. The overnight lending rate was also kept at 9.25 percent and the overnight borrowing at 7.25 percent. Interest Rate in Turkey averaged 59.36 percent from 1990 until 2017, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013.

Turkey Interest Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-03-16 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-04-26 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-06-15 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-07-27 11:00 AM TCMB Interest Rate Decision 8% 8%
2017-08-01 11:00 AM Monetary Policy Meeting Minutes
2017-08-01 11:00 AM CBRT Inflation Report




Turkey Leaves Monetary Policy On Hold


The central bank of Turkey left its benchmark one-week repo rate at 8 percent on June 15th 2017 as widely expected. Policymakers noticed the economic recovery is gathering pace although inflationary risks persist. Yet, the inflation remained at double digits for the fourth month at 11.72 percent in May and food inflation reached the highest since 2010. The central bank added that a tight stance in monetary policy will be maintained until the inflation outlook improves. The overnight lending rate was also kept at 9.25 percent and the overnight borrowing at 7.25 percent.

Statement by the Central Bank of the Republic of Turkey: 

Recently released data indicate that the recovery in the economic activity has gained pace. Domestic demand conditions have improved and demand from the European Union economies continues to contribute positively to exports. The economic activity is expected to further accelerate due to the supportive measures and incentives provided recently. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Although recent improvements in cost factors and expected partial correction in food prices will contribute to disinflation, current elevated levels of inflation pose risks on the pricing behavior. Accordingly, the Committee decided to maintain the tight stance of monetary policy.

The Central Bank will continue to use all available instruments in pursuit of the price stability objective. Tight stance in monetary policy will be maintained until inflation outlook displays a significant improvement. Inflation expectations, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered.

It should be emphasized that any new data or information may lead the Committee to revise its stance.

Central Bank of Turkey | Joana Taborda | joana.taborda@tradingeconomics.com
6/15/2017 11:40:16 AM



Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 12.71 12.71 21.07 4.74 percent [+]
Money Supply M1 411456104.80 419127389.90 419127389.90 55562063.00 TRY Thousand [+]
Money Supply M2 1488570304.00 1468654893.60 1488570304.00 236620702.00 TRY Thousand [+]
Money Supply M3 1532979042.00 1512986746.80 1532979042.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 126910.10 128609.80 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2789143407.00 2656148741.00 2789143407.00 15859.80 TRY Thousand [+]
Loans to Private Sector 981011646.00 959618362.00 981011646.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 14.60 14.92 87.79 8.00 percent [+]
Lending Rate 9.25 9.25 2300.00 6.50 percent [+]
Private Debt to GDP 160.40 151.30 160.40 131.20 percent [+]
Foreign Stock Investment 47838.00 47014.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.00 13.00 9.00 percent [+]
Central Bank Balance Sheet 572978906.00 549827724.00 577680947.00 9071.00 TRY Thousand [+]


Turkey Interest Rate Notes

In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). Since May 18, 2010 the main interest rate is 1 Week Repo Lending Rate. 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 - actual data, historical chart and calendar of releases - was last updated on June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.00 500.00 4.50 1990 - 2017 percent Daily



interest rate by Country

Last
Brazil 10.25 May/17
Russia 9.00 Jun/17
Turkey 8.00 Jun/17
Mexico 7.00 Jun/17
India 6.25 Jun/17
Indonesia 4.75 Jun/17
China 4.35 Jun/17
Australia 1.50 Jun/17
South Korea 1.25 May/17
United States 1.25 Jun/17
Canada 0.50 May/17
United Kingdom 0.25 Jun/17
Euro Area 0.00 Jun/17
France 0.00 Jun/17
Germany 0.00 Jun/17
Italy 0.00 Jun/17
Netherlands 0.00 Jun/17
Spain 0.00 Jun/17
Japan -0.10 Jun/17
Switzerland -0.75 Jun/17