Turkey Interest Rate 1990-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Turkey was last recorded at 7.50 percent. Interest Rate in Turkey averaged 59.96 percent from 1990 until 2015, 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 - 2015 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 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. Content for - Turkey Interest Rate - was last refreshed on Saturday, August 1, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-20 12:00 PM 7.5% 7.5% 7.5% 7.5%
2015-06-23 12:00 PM 7.5% 7.5% 7.5% 7.5%
2015-07-23 12:00 PM 7.5% 7.5% 7.5% 7.5%
2015-09-22 12:00 PM 7.5%
2015-10-21 12:00 PM 7.5%
2015-11-24 12:00 PM 7.5%


Turkey Leaves Monetary Policy Unchanged


Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent for the fifth consecutive month in July, as policymakers showed concern about the uncertainty in global markets and volatility in energy and food prices. The decision was expected by markets.

The central bank also kept the overnight lending rate at 10.75 percent; the overnight borrowing rate at 7.25 percent; and the primary dealers'overnight borrowing rate at 10.25 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. The favorable developments in the terms of trade and the moderate course of consumer loans contribute to the improvement in the current account balance. External demand remains weak, while domestic demand contributes to growth moderately. The Committee assesses that the implementation of the announced structural reforms would contribute to the potential growth significantly.

Food and energy price developments affect inflation favorably in the short run, while exchange rate movements delay the improvement in the core indicators. This delay, combined with the uncertainty in global markets and volatility in energy and food prices, makes it necessary to maintain the cautious stance in monetary policy. The Committee has therefore decided to keep the interest rates at current levels.

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

Central Bank of Turkey | joana.ferreira@tradingeconomics.com
7/23/2015 12:33:08 PM


Recent Releases

Turkey Leaves Rates Unchanged
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in June, as expected. Policymakers voiced concern about growing inflation pressure, even though it is expected to slow in the short term.
Published on 2015-06-23

Turkey Cuts Foreign Curency Deposit Rate
The rates applied to banks' one week maturity borrowings from the Central Bank have been reduced from 4 percent to 3.5 percent for USD and from 2 percent to 1.5 percent for EUR, effective from June 9, 2015.
Published on 2015-06-08

Turkey Leaves Monetary Policy Unchanged
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in May, as expected by markets. Policymakers showed concern over the high levels of inflation, that has been on an upward trend since the beginning of the year.
Published on 2015-05-20

Turkey Leaves Rates Unchanged
Turkish central bank left its benchmark one-week repo rate on hold at 7.5 percent in April, as high food prices keep pushing inflation up. The decision was expected by markets.
Published on 2015-04-22


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 7.50 7.50 500.00 4.50 percent [+]
Interbank Rate 11.12 11.12 21.07 4.74 percent [+]
Money Supply M1 284148360.00 281462810.00 284148360.00 55562063.00 TRY Thousand [+]
Money Supply M2 1128374030.00 1122535741.00 1128374030.00 236620702.00 TRY Thousand [+]
Money Supply M3 1173918307.00 1171629938.00 1173918307.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 141591.40 140770.40 150428.70 1240.00 USD Million [+]
Loans to Private Sector 707953149.00 687956733.00 707953149.00 3402.30 TRY Thousand [+]
Banks Balance Sheet 2112988264.00 2106592406.00 2112988264.00 15859.80 TRY Thousand [+]
Central Bank Balance Sheet 437698694.00 429755478.00 437698694.00 9071.00 TRY Thousand [+]
Lending Rate 10.75 10.75 2300.00 6.50 percent [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jul/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Jul/15 11.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]