The Central Bank of Turkey held its one week repo auction rate at 24 percent on December 13th as widely expected, following a bigger-than-expected decline in November inflation. Policymakers also said that the tight monetary policy stance will be maintained until inflation outlook displays a significant improvement. Interest Rate in Turkey averaged 58.93 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.
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 17.75 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 12.75 percent in 2020, according to our econometric models.