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

Turkish central bank left its benchmark one-week repo rate unchanged at 7.5 percent on April 20th, as widely expected, saying it will maintain the tight monetary policy stance considering the current inflation expectations and pricing behavior. The bank, however, lowered its overnight lending rate for a second time in a row to 10 percent, signaling a willingness to ease policy despite high inflation, while it kept the overnight borrowing rate at 7.25 percent. Interest Rate in Turkey averaged 59.72 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-23 12:00 PM TCMB Interest Rate Decision 7.5% 7.5% 7.5% 7.5%
2016-03-24 12:00 PM TCMB Interest Rate Decision 7.5% 7.5% 7.5% 7.5%
2016-04-20 11:00 AM TCMB Interest Rate Decision 7.5% 7.5% 7.5% 7.5%
2016-05-24 11:00 AM TCMB Interest Rate Decision 7.5% 7.5%
2016-06-21 11:00 AM TCMB Interest Rate Decision 7.5%
2016-07-19 11:00 AM TCMB Interest Rate Decision 7.5%

Turkey Holds Key Rate at 7.5%, Cuts Lending Rate to 10%


Turkish central bank left its benchmark one-week repo rate unchanged at 7.5 percent on April 20th, as widely expected, saying it will maintain the tight monetary policy stance considering the current inflation expectations and pricing behavior. The bank, however, lowered its overnight lending rate for a second time in a row to 10 percent, signaling a willingness to ease policy despite high inflation, while it kept the overnight borrowing rate at 7.25 percent.

Statement by 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 at an increasing pace, despite elevated geopolitical risks in other export markets. Recent data and the leading indicators show that economic activity displays a moderate and stable course of growth. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Recently, decline in the global volatility has continued and global financial conditions have improved. Along with these developments, the effective use of the policy instruments laid out in the road map published in August 2015 has reduced the need for a wide interest rate corridor. In this respect, the Committee decided to take a measured step towards simplification.

Recently, inflation displayed a marked decline, which was mainly due to unprocessed food prices. This decline is expected to continue in the short run. However, improvement in the underlying core inflation trend remains limited, necessitating the maintenance of a tight liquidity stance.

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.

Central Bank of Turkey | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/20/2016 12:26:13 PM

Turkey Money Last Previous Highest Lowest Unit
Interest Rate 7.50 7.50 500.00 4.50 percent [+]
Interbank Rate 10.37 10.36 21.07 4.74 percent [+]
Money Supply M1 315689481.40 312751927.30 315689481.40 55562063.00 TRY Thousand [+]
Money Supply M2 1231381379.10 1215810297.80 1231381379.10 236620702.00 TRY Thousand [+]
Money Supply M3 1276721483.60 1260982257.80 1276721483.60 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 131926.90 127076.30 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2297592362.00 2273609693.00 2333560422.00 15859.80 TRY Thousand [+]
Loans to Private Sector 768342647.00 771155378.00 771155378.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 16.77 15.76 87.79 8.00 percent [+]
Lending Rate 10.00 10.00 2300.00 6.50 percent [+]
Central Bank Balance Sheet 474020660.00 474451307.00 494532730.00 9071.00 TRY Thousand [+]




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