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 60.17 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.

      Forecast    
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 Sunday, December 21, 2014.


Turkey Leaves Monetary Policy Unchanged


Turkish central bank decided to maintain its benchmark one-week repo rate at 8.25 percent at its November 20th meeting, saying the current policy stance has a favorable impact on core inflation and it will be maintained until the inflation outlook improves.

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. Global demand remains weak, while the contribution of domestic demand to growth is increasing. However, the moderate course of consumer loans and the favorable terms of trade may contribute to the improvement in the current account balance.
Macroprudential measures taken at the beginning of the year and the tight monetary policy stance continue to have a favorable impact on the core inflation trend. However, elevated food prices delay the improvement in the inflation outlook. Meanwhile, current levels of commodity prices, in particular declining oil prices, are expected to contribute to disinflation foreseen for the next year. The Committee anticipates that, under the current monetary policy stance, inflation will decline in line with the forecast presented in the Inflation Report throughout 2015.

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 | Carolina Cunha | carolina.cunha@tradingeconomics.com
11/20/2014 12:45:56 PM


Recent Releases

Turkey Leaves Rates on Hold
Central Bank of Turkey left its benchmark one-week repo rate unchanged at 8.25 percent on October 23rd as inflation rate remains high and lira continues to weaken. Published on 2014-10-23

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. Published on 2014-09-25


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-25 12:00 PM
TCMB Interest Rate Decision 
8.25% 8.25% 8.25% 8.25%
2014-10-23 12:00 PM
TCMB Interest Rate Decision 
8.25% 8.25% 8.25% 8.25%
2014-11-20 12:00 PM
TCMB Interest Rate Decision 
8.25% 8.25% 8.25% 8.25%
2014-12-24 12:00 PM
TCMB Interest Rate Decision 
8.25% 8.25% 8.25%
2015-01-21 12:00 PM
TCMB Interest Rate Decision 
2015-01-28 10:00 PM
TCMB Interest Rate Decision 
8.25%


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.25 8.25 500.00 4.50 percent [+]
Interbank Rate 9.60 8.91 21.07 4.74 percent [+]
Money Supply M1 245480197.00 247411042.00 252770711.00 55562063.00 TRY Thousand [+]
Money Supply M2 986960144.00 985850055.00 1000599803.00 236620702.00 TRY Thousand [+]
Money Supply M3 1031595479.00 1029854031.00 1044893193.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 146705.30 148667.50 150378.70 1240.00 USD Million [+]
Loans to Private Sector 1002810142.00 1001927449.00 1002810142.00 4762.10 TRY Thousand [+]
Banks Balance Sheet 1778382673.00 1756027709.00 1778382673.00 15859.80 TRY Thousand [+]
Central Bank Balance Sheet 374510377.00 369273709.00 384426860.00 9071.00 TRY Thousand [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 11.75 Dec/14 11.25 45.00 7.25 percent [+]
Canada 1.00 Dec/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Dec/14 0.05 4.75 0.05 percent [+]
France 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Dec/14 0.05 4.75 0.05 percent [+]
India 8.00 Dec/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Dec/14 7.75 12.75 5.75 percent [+]
Italy 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Dec/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Dec/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Russia 17.00 Dec/14 9.50 17.00 5.00 percent [+]
South Korea 2.00 Dec/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Switzerland -0.25 Dec/14 0.00 3.50 -0.25 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Dec/14 0.50 17.00 0.50 percent [+]
United States 0.25 Dec/14 0.25 20.00 0.25 percent [+]