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Turkey Interest Rate

Last Release
Sep 2021
Actual
18 %
Forecast
18 %
Previous
19 %
Frequency
Daily
Units In
%
Next Release
Oct 21, 2021
Time to Release
5 Days 11 Hours
Highest
Lowest
Average
Date Range
Source
500 %
Mar 1994
4.5 %
Jan 2014
58.24 %1990 - 2021Central 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 lowered its one-week repo rate by 100 bps to 18% during its September meeting, contrary to expectations that rate would be left unchanged, claiming that the tightness of the monetary policy stance had created a larger-than-expected contractionary effect on commercial loans. Additionally, the central bank said it was committed to strengthen the macroprudential policy framework to curb personal loan growth. Policymakers noted that the increase in inflation was still transitory and driven by the rise in food and import prices, due to supply constraints and an expansion in demand following the reopening of the economy. The committee added that domestic economic activity remained strong in Q3, supported by external demand, while the quickening vaccination drive enabled a faster recovery in services, tourism and related sectors.

Turkey Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Sep 23, 202111:15Turkey Unexpectedly Lowers Rates
Aug 12, 202111:05Turkey Holds Interest Rate at 19%
Jul 14, 202111:07Turkey Keeps Rates on Hold as Expected
Jan 16, 202011:12Turkey Surprises with 75bps Rate Cut
Dec 12, 201911:10Turkey Cuts Interest Rates by 200bps
Oct 24, 201911:04Turkey Cuts Interest Rates by 250bps
Sep 12, 201911:25Turkey Cuts Interest Rates by 325bps

Turkey money Indicators

All Turkey indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
6,683,002,756
Jul 2021
6,488,699,670
Apr 2021
15,859.8
Jan 1986
6,683,002,756
Jul 2021
TRY ThousandMonthly1986 - 2021
Central Bank Balance Sheet
1,646,846,713
Aug 2021
1,432,625,597
Jul 2021
9,071
Jan 1986
1,646,846,713
Aug 2021
TRY ThousandMonthly1986 - 2021
Cash Reserve Ratio
23
Sep 2021
21
Aug 2021
9
Dec 2009
23
Sep 2021
%Monthly2002 - 2021
Deposit Interest Rate
16.5
Sep 2021
16.5
Sep 2021
1.5
Jun 2011
398.1
Apr 1994
%Monthly1990 - 2021
Foreign Exchange Reserves
85,360
Oct 2021
83,200
Oct 2021
1,240
Jun 1981
150,427.2
Jul 2014
USD MillionWeekly1981 - 2021
Foreign Stock Investment
22,048
Aug 2021
21,255
Aug 2021
0
Jan 2006
82,048
May 2013
USD MillionDaily2005 - 2021

Interest Rate across Europe

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Albania
0.5
Oct 2021
0.5
Aug 2021
0.5
Mar 2020
8.5
Nov 2002
%Daily2001 - 2021
Armenia
7.25
Sep 2021
7
Aug 2021
4.25
Sep 2020
10.5
Jun 2015
%Daily2010 - 2021
Euro Area
0
Sep 2021
0
Aug 2021
0
Oct 2018
4.75
Apr 2001
%Daily1998 - 2021
Belarus
9.25
Sep 2021
9.25
Aug 2021
7.75
Jun 2020
480
Nov 1994
%Daily1991 - 2021
Bosnia and Herzegovina
3.02
Jun 2021
3.38
May 2021
2.83
Nov 2020
80.25
Jan 1999
%Monthly1998 - 2021
Croatia
2.5
Sep 2021
2.5
Aug 2021
2.5
Nov 2018
4,290.85
Sep 1993
%Daily1992 - 2021

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