The Central Bank of Turkey left the key one-week repo rate steady at 14% as expected during its June meeting of 2022, saying that in the rise observed in inflation energy cost increases caused by geopolitical developments, temporary effects of pricing formations that are far from economic fundamentals, strong negative supply shocks caused by increases in global energy, food and agricultural commodity prices continue to be influential. Inflation rate in Turkey surged to 73.5% in May, the highest since 1998. The Board foresees that the disinflationary process will begin with the re-establishment of the global peace environment and the elimination of base effects in inflation, together with the steps taken and determinedly implemented to strengthen sustainable price stability and financial stability. The Board will continue to take its decisions in a transparent, predictable and data-oriented framework. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey averaged 58.05 percent from 1990 until 2022, 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 2022.
Interest Rate in Turkey is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Interest Rate is projected to trend around 14.00 percent in 2023 and 12.50 percent in 2024, according to our econometric models.