Turkey Interest Rate

Last Release

Sep 11, 2025

Actual

40.5

Units In

Frequency

Daily

Next Release

Oct 23, 2025

Time to Release

1 Months 9 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
500 Mar 1994	4.5 May 2013	57.6 %	1990-2025	Central Bank of the Republic of Turkey

In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). From June 1st 2018, the main interest rate is the one-week repo rate and the overnight borrowing and lending rates will be determined at 150 bps below/above the one-week repo rate. The central bank simplified its monetary policy framework on May 28th 2018 from a different system with four main key rates, with the late liquidity window lending rate being one of the most followed.

Latest Updates

The Central Bank of Turkey cut its benchmark interest rate by 250 bps to 40.5% in its September meeting, more than market expectations of a softer cut to 41%. The move follows signs of slowing underlying inflation in August, though food and services prices continue to pressure inflation. Despite stronger-than-expected Q2 growth, domestic demand remains weak, keeping demand conditions disinflationary. Policymakers stressed that tight monetary policy will stay in place until price stability is achieved, working through demand, exchange rate, and expectations channels. The Committee will assess policy rate steps cautiously, guided by inflation trends and interim targets, with room to tighten if inflation deviates significantly. Decisions will aim to secure the medium-term 5% inflation target within a predictable, transparent, and data-driven framework. In the meantime, the overnight borrowing rate and the overnight cutting rate were also reduced by 250 bps to 43.5% and 39%, respectively.