Turkey Interest Rate  1990-2018 | Data | Chart | Calendar | Forecast

The central bank of Turkey left its key one-week repo rate steady at 8 percent on April 25th 2018, in line with market expectations. The overnight lending rate was also kept at 9.25 percent and the overnight borrowing rate at 7.25 percent. In contrast, the late liquidity window rate was raised by 75bps to 13.5 percent, more than forecasts of a 50bps hike. Policymakers said the economy activity remains strong while high inflation continues to pose risks. As a result, tight monetary policy will be maintained until the inflation outlook improves. Interest Rate in Turkey averaged 59.11 percent from 1990 until 2018, 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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Turkey Leaves Key Rate at 8%


The central bank of Turkey left its key one-week repo rate steady at 8 percent on April 25th 2018, in line with market expectations. The overnight lending rate was also kept at 9.25 percent and the overnight borrowing rate at 7.25 percent. In contrast, the late liquidity window rate was raised by 75bps to 13.5 percent, more than forecasts of a 50bps hike. Policymakers said the economy activity remains strong while high inflation continues to pose risks. As a result, tight monetary policy will be maintained until the inflation outlook improves.

Statement by the Central Bank of the Republic of Turkey:

Recently released data indicate that economic activity maintains its strength. Domestic demand continues to expand and external demand contributes positively to exports.

Current elevated levels of inflation and inflation expectations continue to pose risks on the pricing behavior. Upside movements in import prices have increased such risks. Accordingly, the Committee decided to implement a measured monetary tightening to support price stability.

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 decisively until inflation outlook displays a significant improvement, independent of base effects and temporary factors, and becomes consistent with the targets. 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
4/25/2018 11:16:07 AM


Recent Releases

Turkey Holds Key Policy Rate at 8% as Expected
The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on March 7th, as widely expected, saying that the current monetary policy stance will be maintained until there is a significant improvement in the inflation outlook. In February, the country's annual inflation eased to a seven-month low of 10.26 percent, but was still way above the central bank's 5 percent target.
Published on 2018-03-07

Turkey Holds Key Policy Rate at 8%
The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on January 18th, as widely expected, saying the current monetary policy stance will be maintained until there is a significant improvement in the inflation outlook.
Published on 2018-01-18

Turkey Hikes Late Liquidity Window Rate to 12.75%
The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent and raised its late liquidity window rate by a less-than-expected 50bps to 12.75 percent on December 14th, in an attempt to curb rising inflation amid strong economic growth. Annual inflation rate hit a 14-year peak of 12.98 percent last month, way above the central bank's target of 5 percent, and core inflation hit a near record high of 12.08 percent.
Published on 2017-12-14

Turkey Holds Key Interest Rate at 8% as Expected
The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on October 26th, as widely expected, saying rising inflation poses risks on the pricing behavior while the economic activity is expected to maintain its strength boosted by both domestic and external demand. Annual inflation rate came in at a four-month high of 11.20 percent in September, way above the central bank's target of 5 percent, and core inflation hit 10.89 percent, its highest level since February 2004.
Published on 2017-10-26



Calendar GMT Actual Previous Consensus TEForecast
2018-01-18 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2018-03-07 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2018-04-25 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2018-06-07 11:00 AM TCMB Interest Rate Decision 8% 8%
2018-07-24 11:00 AM TCMB Interest Rate Decision 8%
2018-09-13 11:00 AM TCMB Interest Rate Decision 8%


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 16.26 16.30 21.07 4.74 percent [+]
Money Supply M1 463125544.80 451598420.70 463125544.80 55562063.00 TRY Thousand [+]
Money Supply M2 1722685642.20 1678936210.00 1722685642.20 236620702.00 TRY Thousand [+]
Money Supply M3 1782806870.90 1738038044.00 1782806870.90 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 139746.30 139559.60 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 3219318086.00 3171588039.00 3219318086.00 15859.80 TRY Thousand [+]
Loans to Private Sector 1133784054.00 1105301988.00 1133784054.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 7.25 7.25 398.10 1.50 percent [+]
Private Debt to GDP 170.80 159.40 170.80 131.20 percent [+]
Lending Rate 9.25 9.25 2300.00 6.50 percent [+]
Foreign Stock Investment 40834.00 41513.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.00 13.00 9.00 percent [+]
Central Bank Balance Sheet 674240222.00 649657444.00 677704386.00 9071.00 TRY Thousand [+]


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). 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 May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.00 500.00 4.50 1990 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Apr/18
Mexico 7.50 May/18
Russia 7.25 Apr/18
Brazil 6.50 May/18
India 6.00 Apr/18
Indonesia 4.50 May/18
China 4.35 Apr/18
United States 1.75 May/18
Australia 1.50 May/18
South Korea 1.50 Apr/18
Canada 1.25 Apr/18
United Kingdom 0.50 May/18
Euro Area 0.00 Apr/18
France 0.00 Apr/18
Germany 0.00 Apr/18
Italy 0.00 Apr/18
Netherlands 0.00 Apr/18
Spain 0.00 Apr/18
Japan -0.10 Apr/18
Switzerland -0.75 Apr/18


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