Turkey Interest Rate  1990-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on January 24th, while markets were expecting a 50bps hike, and raised its lending rate by 75bps to 9.25 percent, in an attempt to support the currency and to contain a deterioration in the inflation outlook. Interest Rate in Turkey averaged 59.49 percent from 1990 until 2017, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013.

Turkey Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-24 11:00 AM TCMB Interest Rate Decision 8% 7.5% 7.75% 7.75%
2016-12-20 11:00 AM TCMB Interest Rate Decision 8% 8% 8.25% 8.25%
2017-01-24 11:00 AM TCMB Interest Rate Decision 8% 8% 8.5% 8.5%
2017-03-16 11:00 AM TCMB Interest Rate Decision 8% 8%
2017-03-23 11:00 AM Monetary Policy Meeting Minutes
2017-04-26 11:00 AM TCMB Interest Rate Decision




Turkey Holds Repo Rate At 8%, Hikes Lending Rate To 9.25%


The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on January 24th, while markets were expecting a 50bps hike, and raised its lending rate by 75bps to 9.25 percent, in an attempt to support the currency and to contain a deterioration in the inflation outlook.

The central bank kept its overnight borrowing rate at 7.25 percent and increased the rate at its late liquidity window to 11 percent from 10 percent.

Statement by the Central Bank of the Republic of Turkey:

Recently released data indicate a partial recovery in the economic activity. Demand from the European Union economies continues to contribute positively to exports, while domestic demand displays a weaker course. With the supportive measures and incentives provided recently, the recovery in the economic activity is expected to continue at a moderate pace. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Aggregate demand developments support disinflation. Yet, excessive fluctuations in exchange rates since the previous meeting have increased the upside risks regarding the inflation outlook. The significant rise in inflation is expected to continue in the short term due to lagged pass-through effects and the volatility in food prices. Accordingly, the Committee decided to strengthen the monetary tightening in order to contain the deterioration in the inflation outlook.  

The Central Bank will continue to use all available instruments in pursuit of the price stability objective. Future monetary policy decisions will be conditional on the inflation outlook. Inflation expectations, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered. Moreover, necessary liquidity measures will be taken in case of unhealthy pricing behavior in the foreign exchange market that cannot be justified by economic fundamentals.

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

The summary of the Monetary Policy Committee Meeting will be released within five working days.

Central Bank of Turkey | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/24/2017 11:23:56 AM



Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 11.27 11.27 21.07 4.74 percent [+]
Money Supply M1 376726650.20 382338665.30 382338665.30 55562063.00 TRY Thousand [+]
Money Supply M2 1434420039.00 1406716357.30 1434420039.00 236620702.00 TRY Thousand [+]
Money Supply M3 1478625197.00 1450668698.80 1478625197.00 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 129554.90 135702.60 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2623047430.00 2507125716.00 2623047430.00 15859.80 TRY Thousand [+]
Loans to Private Sector 890830186.00 878000433.00 890830186.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 14.92 16.77 87.79 8.00 percent [+]
Lending Rate 9.25 9.25 2300.00 6.50 percent [+]
Private Debt to GDP 192.12 177.08 192.12 106.76 percent [+]
Foreign Stock Investment 39820.00 39480.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.50 13.00 9.00 percent [+]
Central Bank Balance Sheet 577680947.00 539597920.00 577680947.00 9071.00 TRY Thousand [+]



Turkey Interest Rate Notes

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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.00 500.00 4.50 1990 - 2017 percent Daily



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