The Central Bank of Turkey held its one-week repo rate at 19 percent on May 6th 2021, as expected, saying the decelerating impact of the monetary tightening on credit and domestic demand has begun to be observed. Turkey's consumer price inflation surged to a near 2-year high of 17.14 percent in April and last week the central bank said it expects it to decline to 12.2 percent by year-end. Policymakers noted domestic economic activity is strong but risks for economic activity exist in either direction depending on the progress of the pandemic and the vaccination process. The CBRT will continue to use decisively all available instruments in pursuit of the primary objective of price stability. The policy rate will continue to be determined at a level above inflation to maintain a strong disinflationary effect until strong indicators point to a permanent fall in inflation and the medium-term 5 percent target is reached. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey averaged 58.32 percent from 1990 until 2021, 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 May of 2021.
Interest Rate in Turkey is expected to be 19.00 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 15.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 12.50 percent in 2022, according to our econometric models.