The Central Bank of Turkey slashed its benchmark one-week repo rate by 50 bps to 8.25 percent during its May meeting, saying the decision aims to contain the negative effects of the pandemic on the Turkish economy while also maintaining a sustained disinflation process, which is a key factor for achieving lower sovereign risk, lower long-term interest rates, and stronger economic recovery. Policymakers noted that developments regarding the spread of the coronavirus have substantially weakened global growth outlook and inflation expectations remain low as a sharp decline in crude oil and metal prices offset the recent depreciation in the lira.
Interest Rate in Turkey averaged 58.58 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 June of 2020. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey is expected to be 7.25 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 5.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 6.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models.