The Central Bank of Turkey held its one-week repo auction rate at 24 percent during its June meeting, saying that a tight monetary policy supports the disinflation process. Annual inflation fell to a nine-month low of 18.71 percent in May, easing further from October's 15-year peak of 25.24 percent after a currency crisis plunged the economy into its first recession in a decade. Interest Rate in Turkey averaged 58.82 percent from 1990 until 2019, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013.
Interest Rate in Turkey is expected to be 24.00 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 17.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 11.50 percent in 2020, according to our econometric models.