Turkey Interest Rate 1990-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Turkey was last recorded at 8.25 percent. Interest Rate in Turkey averaged 60.25 Percent from 1990 until 2014, 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


Actual Previous Highest Lowest Dates Unit Frequency
8.25 8.25 500.00 4.50 1990 - 2014 Percent Daily
In Turkey the interest rates decisions are taken 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 - Turkey Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Turkey Interest Rate - was last refreshed on Wednesday, October 22, 2014.


Turkey Leaves Monetary Policy Unchanged


Turkish central bank decided on September 25th to leave its benchmark one-week repo rate unchanged at 8.25 percent. The remaining rates were also left on hold, as high food prices keep pushing inflation up.

The marginal funding rate was left on hold at 11.25 percent; the interest rate on borrowing facilities provided for primary dealers via repo transactions was kept at 10.75 percent, and the borrowing rate at 7.5 percent. The late liquidity window borrowing rate was kept at 0 percent and the lending rate was left steady at 12.75 percent.

Statement by the Central Bank of the Republic of Turkey:

Loan growth continues at reasonable levels in response to the tight monetary policy stance and macroprudential measures. Exports remain supportive of balanced growth in spite of weakening global demand. 

Macroprudential measures taken at the beginning of the year and the tight monetary policy stance started to have favorable impact on the core inflation trend. Elevated food prices continue to delay the improvement in the inflation outlook. Meanwhile, declining commodity prices are expected to limit upside risks on inflation. 

Inflation expectations, pricing behavior and other factors that affect inflation will be closely monitored and the tight monetary policy stance will be maintained, by keeping a flat yield curve, until there is a significant improvement in the inflation outlook. 

It should be emphasized that any new data or information may lead the Committee to revise its stance.

Central Bank of Turkey | Joana Taborda | joana.taborda@tradingeconomics.com
9/25/2014 12:18:05 PM


Recent Releases

Turkey Leaves Benchmark Rate on Hold; Cuts Lending Rate
Turkish central bank decided on August 27th to leave its one-week repo rate unchanged at 8.25 percent, while cutting its overnight lending rate by 75 bps to 11.25 percent. The borrowing rate for primary dealers was also reduced by 75 bps 10.75 percent. Published on 2014-08-27

Turkey Cuts Rates for 3rd Straight Meeting
At its July 17th meeting, Turkey’s central bank lowered the benchmark one-week repo rate by 50 bps to 8.25 percent, saying the impact of exchange rate developments since mid-2013 on inflation is gradually tapering off. Published on 2014-07-17


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-17 12:00 PM Turkey
TCMB Interest Rate Decision
8.25% 8.75% 8.25% 8.75%
2014-08-27 12:00 PM Turkey
Overnight Lending Rate
11.25% 12.0% 12.0% 8.25%
2014-08-27 12:00 PM Turkey
One-Week Repo Rate
8.25% 8.25% 8.25% 8.25%
2014-09-25 12:00 PM Turkey
TCMB Interest Rate Decision
8.25% 8.25% 8.25% 8.25%
2014-10-23 12:00 PM Turkey
TCMB Interest Rate Decision
8.25% 8.25% 8.25%


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.25 8.25 500.00 4.50 Percent [+]
Interbank Rate 9.12 8.35 21.07 4.74 Percent [+]
Money Supply M1 242680326.00 228623980.00 242680326.00 55562063.00 TRY Thousand [+]
Money Supply M2 969804162.00 944815038.00 969804162.00 236620702.00 TRY Thousand [+]
Money Supply M3 1012251775.00 988430488.00 1012251775.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 145091.00 144315.30 149713.40 1240.00 USD Million [+]
Loans to Private Sector 949104862.00 923435577.00 949104862.00 4762.10 TRY Thousand [+]
Banks Balance Sheet 1778382673.00 1756027709.00 1778382673.00 15859.80 TRY Thousand [+]
Central Bank Balance Sheet 374413037.00 346714414.00 374413037.00 9071.00 TRY Thousand [+]