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

The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on September 14th as widely expected. Policymakers said the economic recovery has gained strength boosted by domestic and external demand from the EU countries while high inflation continues to pose risks. As a result, a tight stance in monetary policy will be maintained until the inflation outlook improves significantly. Interest Rate in Turkey averaged 59.28 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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Turkey Keeps Rates Steady in September


The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on September 14th as widely expected. Policymakers said the economic recovery has gained strength boosted by domestic and external demand from the EU countries while high inflation continues to pose risks. As a result, a tight stance in monetary policy will be maintained until the inflation outlook improves significantly.

Also, the central bank left its overnight lending rate unchanged at 9.25 percent; its overnight borrowing rate at 7.25 percent and its late liquidity window rate at 12.25 percent.

Statement by the Central Bank of the Republic of Turkey:

Recently released data indicate that the recovery in the economic activity has gained strength. Domestic demand conditions keep improving and demand from the European Union economies continues to contribute positively to exports. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Current elevated levels of inflation and developments in core inflation indicators 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 |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/14/2017 11:29:20 AM



Calendar GMT Actual Previous Consensus TEForecast
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% 8% 8%
2017-09-14 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-10-26 11:00 AM TCMB Interest Rate Decision 8% 8%
2017-11-01 11:00 AM Monetary Policy Meeting Minutes
2017-11-01 11:00 AM CBRT Inflation Report


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 12.88 12.88 21.07 4.74 percent [+]
Money Supply M1 424754541.30 437425430.50 437425430.50 55562063.00 TRY Thousand [+]
Money Supply M2 1545920359.30 1538859230.70 1545920359.30 236620702.00 TRY Thousand [+]
Money Supply M3 1594371837.00 1587160175.60 1594371837.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 131283.30 133776.60 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2879082174.00 2827947346.00 2879082174.00 15859.80 TRY Thousand [+]
Loans to Private Sector 1009536311.00 1007966977.00 1009536311.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 7.25 7.25 398.10 1.50 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 50251.00 49815.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.00 13.00 9.00 percent [+]
Central Bank Balance Sheet 604075299.00 595934973.00 604075299.00 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 October 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
Russia 8.50 Sep/17
Brazil 8.25 Sep/17
Turkey 8.00 Sep/17
Mexico 7.00 Sep/17
India 6.00 Oct/17
China 4.35 Sep/17
Indonesia 4.25 Sep/17
Australia 1.50 Oct/17
South Korea 1.25 Sep/17
United States 1.25 Sep/17
Canada 1.00 Sep/17
United Kingdom 0.25 Sep/17
Euro Area 0.00 Sep/17
France 0.00 Sep/17
Germany 0.00 Sep/17
Italy 0.00 Sep/17
Netherlands 0.00 Sep/17
Spain 0.00 Sep/17
Japan -0.10 Sep/17
Switzerland -0.75 Sep/17