Turkey’s central bank cut its one-week repo rate by 100 basis points to 36% from 37%, lowering its overnight lending and borrowing rates by the same amount to 39% and 34.5%, respectively, as expected. The Monetary Policy Committee said recent inflation data and leading indicators continued to signal a downward trend, while economic activity pointed to persistently weak domestic demand. However, elevated energy prices amid ongoing geopolitical tensions remain a source of upward inflationary pressure. The bank reiterated its commitment to maintaining tight monetary conditions until price stability is achieved, supporting disinflation through demand, exchange rate and expectations channels. Future rate decisions will depend on inflation trends, expectations and progress toward interim targets, with adjustments made cautiously at each meeting. The committee warned that a significant and sustained deterioration in the inflation outlook could prompt monetary tightening. source: Central Bank of the Republic of Turkey

The benchmark interest rate in Turkey was last recorded at 36 percent. Interest Rate in Turkey averaged 57.46 percent from 1990 until 2026, reaching an all time high of 500.00 percent in March of 1994 and a record low of 4.50 percent in May of 2013. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

The benchmark interest rate in Turkey was last recorded at 36 percent. Interest Rate in Turkey is expected to be 35.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Interest Rate is projected to trend around 28.00 percent in 2027 and 25.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-23 11:00 AM TCMB Interest Rate Decision 37% 37% 37% 37%
2026-09-10 11:00 AM TCMB Interest Rate Decision 37% 37% 37% 37.0%
2026-10-22 11:00 AM TCMB Interest Rate Decision 36% 37% 36% 36%
2026-10-30 11:00 AM MPC Meeting Summary
2026-11-12 07:30 AM Inflation Report
2026-11-27 07:30 AM Financial Stability Report


Related Last Previous Unit Reference
Banks Balance Sheet 55612029749.00 53710590615.00 TRY Thousand Aug 2026
Cash Reserve Ratio 25.00 25.00 percent Sep 2026
Central Bank Balance Sheet 14292611788.00 12832745905.00 TRY Thousand Aug 2026
Overnight Borrowing Rate 34.50 35.50 percent Oct 2026
Foreign Exchange Reserves 62148.00 64567.00 USD Million Oct 2026
Interest Rate 36.00 37.00 percent Oct 2026
Overnight Lending Rate 39.00 40.00 percent Oct 2026
Loans to Non Financial Companies 14661799358.00 14331883688.00 TRY Thousand Aug 2026
Money Supply M0 970778453.90 955490281.90 TRY Thousand Sep 2026
Money Supply M1 11486454974.60 11430958428.80 TRY Thousand Sep 2026
Money Supply M2 29487054989.50 28991348337.10 TRY Thousand Sep 2026
Money Supply M3 32613566987.10 32345984581.70 TRY Thousand Sep 2026


Turkey Interest Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
36.00 37.00 500.00 4.50 1990 - 2026 percent Daily

News Stream
Turkey Cuts Policy Rate to 36% as Expected
Turkey’s central bank cut its one-week repo rate by 100 basis points to 36% from 37%, lowering its overnight lending and borrowing rates by the same amount to 39% and 34.5%, respectively, as expected. The Monetary Policy Committee said recent inflation data and leading indicators continued to signal a downward trend, while economic activity pointed to persistently weak domestic demand. However, elevated energy prices amid ongoing geopolitical tensions remain a source of upward inflationary pressure. The bank reiterated its commitment to maintaining tight monetary conditions until price stability is achieved, supporting disinflation through demand, exchange rate and expectations channels. Future rate decisions will depend on inflation trends, expectations and progress toward interim targets, with adjustments made cautiously at each meeting. The committee warned that a significant and sustained deterioration in the inflation outlook could prompt monetary tightening.
2026-10-22
Turkey Holds Interest Rate at 37%
The Central Bank of the Republic of Turkey maintained its benchmark overnight lending rate at 37% for the fifth straight decision in its September 2026 meeting, as expected by markets. Then central bank noted that despite recent volatility in financial markets and the turbulent backdrop of the global macroeconomy, leading indicators suggested that the underlying inflation trend has moderated since the last meeting in June. On the other hand, the surging energy prices due to fresh escalation in the Iran-US war heightened inflationary risks, preventing any signals to warrant eased financial conditions or a favorable backdrop for the lira and overall emerging market currencies. The bank also nodded at defending the lira's stability, which was tested in May after Turkish courts removed the country's opposition leader Ozel, and previously prompted tweaks in the monetary framework to force commercial banks on higher funding rates.
2026-09-10
Turkey Holds Rate at 37% as Expected
The Central Bank of the Republic of Turkey maintained its benchmark overnight lending rate at 37% for the fourth straight decision in its July 2026 meeting, as expected. The central bank noted that the trend of underlying inflation eased slightly in June, although leading indicators pointed to a rebound in July that maintains inflationary risks in the Turkish economy. The rebound in price trends was consistent with other Asian economies as global energy prices retested their peaks following the escalation of the war in the Middle East. Meanwhile, data tracked by the TCMB pointed to slowing domestic demand. The bank reiterated that interest rates will remain restrictive until price stability is achieved, pushing back against any sign of accommodation to growth risks. The bank also nodded at defending the lira's stability, which was tested in May after Turkish courts removed the country's opposition leader Ozel.
2026-07-23