Turkey Interest Rate  1990-2016 | Data | Chart | Calendar | Forecast

Turkish central bank kept its benchmark one-week repo rate on hold for the eleventh consecutive month at 7.5 percent at its first meeting of the year, saying that the tight liquidity stance will be maintained as long as deemed necessary to curb rising inflation rate. The move was expected by markets. Interest Rate in Turkey averaged 59.80 percent from 1990 until 2016, 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 reported by the Central Bank of the Republic of Turkey.

Turkey Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
7.50 7.50 500.00 4.50 1990 - 2016 percent Daily
In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). Since May 18, 2010 the main interest rate is 1 Week Repo Lending Rate. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-24 12:00 PM TCMB Interest Rate Decision 7.5% 7.5% 7.5% 7.5%
2015-12-22 12:00 PM TCMB Interest Rate Decision 7.5% 7.5% 8% 8%
2016-01-19 12:00 PM TCMB Interest Rate Decision 7.5% 7.5% 7.5% 7.5%
2016-02-23 12:00 PM TCMB Interest Rate Decision 7.5% 7.5%
2016-03-24 12:00 PM TCMB Interest Rate Decision 7.5%
2016-04-20 11:00 AM TCMB Interest Rate Decision 7.5%

Turkey Leaves Rates Unchanged for 11th Straight Month


Turkish central bank kept its benchmark one-week repo rate on hold for the eleventh consecutive month at 7.5 percent at its first meeting of the year, saying that the tight liquidity stance will be maintained as long as deemed necessary to curb rising inflation rate. The move was expected by markets.

The central bank kept the overnight lending rate at 10.75 percent and the overnight borrowing rate at 7.25 percent.

Statementby the Central Bank of the Republic of Turkey:

Annual loan growth continues at reasonable rates in response to the tight monetary policy stance and macroprudential measures. The favorable developments in the terms of trade and the moderate course of consumer loans contribute to the improvement in the current account balance. Demand from the European Union economies continues to support exports, despite elevated geopolitical risks in other export markets. The Committee assesses that the implementation of the announced structural reforms would contribute to the potential growth significantly.

Energy price developments affect inflation favorably, while other cost factors limit the improvement in the core indicators. Considering the wage developments and the impact of the uncertainty in global markets on inflation expectations and pricing behavior and taking into account the volatility in energy and unprocessed food prices, the Committee stated that the tight liquidity stance will be maintained as long as deemed necessary.

Future monetary policy decisions will be conditional on the inflation outlook. Taking into account inflation expectations, pricing behavior and the course of other factors affecting inflation, the tight monetary policy stance will be maintained. The Committee also assessed the heightened global volatility since the beginning of the year and the January Inflation Report forecasts.

Central Bank of Turkey | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/19/2016 12:21:37 PM

Turkey Money Last Previous Highest Lowest Unit
Interest Rate 7.50 7.50 500.00 4.50 percent [+]
Interbank Rate 11.65 11.64 21.07 4.74 percent [+]
Money Supply M1 311998649.50 312302153.40 312302153.40 55562063.00 TRY Thousand [+]
Money Supply M2 1195802786.10 1205997970.60 1209917715.30 236620702.00 TRY Thousand [+]
Money Supply M3 1231810511.80 1243101385.30 1251715653.70 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 137890.60 142393.50 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2297777789.00 2295703926.00 2297777789.00 15859.80 TRY Thousand [+]
Loans to Private Sector 751809539.00 748356070.00 761048923.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 16.77 15.76 87.79 8.00 percent [+]
Lending Rate 10.75 10.75 2300.00 6.50 percent [+]
Central Bank Balance Sheet 473787487.00 473459448.00 494532730.00 9071.00 TRY Thousand [+]




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