The Central Bank of Turkey held its benchmark one-week repo at 8.25 percent during its July meeting as widely expected, after the country's headline inflation rate hit the highest level for 10 months in June boosted by a surge in food inflation due to seasonal and pandemic-related effects, while commodity prices continued to restrain consumer prices. Policymakers said that demand-driven disinflationary effects will become more prevalent in the second half of the year as the normalization process continues, while the economic recovery will continue helped by recent monetary and fiscal measures.
Interest Rate in Turkey averaged 58.53 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 August of 2020. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey is expected to be 8.75 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 8.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 8.50 percent in 2021, according to our econometric models.