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 April 26th, as widely expected. Also, the lending and overnight borrowing rates were kept unchanged at 9.25 percent and 7.25 percent, respectively. Meanwhile, the late liquidity window rate was hiked to 12.25 percent from 11.75 percent. Policymakers said that the recently released data indicated a gradual recovery in the economic activity and domestic demand conditions displayed a moderate improvement. Also, tight stance in monetary policy will be maintained until inflation outlook shows a significant improvement. Interest Rate in Turkey averaged 59.46 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)
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% 8% 8%
2017-04-26 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-05-30 11:00 AM CBRT Financial Stability Report
2017-06-15 11:00 AM TCMB Interest Rate Decision 8%
2017-06-22 11:00 AM Monetary Policy Meeting Minutes




Turkey Holds Key Rate At 8%


The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent on April 26th, as widely expected. Also, the lending rate was kept unchanged at 9.25 percent. Policymakers said that the recently released data indicated a gradual recovery in the economic activity and domestic demand conditions displayed a moderate improvement. Meanwhile, tight stance in monetary policy will be maintained until inflation outlook shows a significant improvement.

The central bank kept its overnight borrowing rate at 7.25 percent and increased the rate at its late liquidity window to 12.25 percent from 11.75 percent.

Statement by the Central Bank of the Republic of Turkey:


Recently released data indicate a gradual recovery in the economic activity. Domestic demand conditions display a moderate improvement and demand from the European Union economies continues to contribute positively to exports. With the supportive measures and incentives provided recently, the economic activity is expected to gain further pace in the forthcoming period. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Cost push pressures and the volatility in food prices in recent months have led to a sharp increase in inflation. Although the recent improvement in the risk appetite contains some of the upside pressures from cost factors, current elevated levels of inflation pose risks on the pricing behavior. 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. Tight stance in monetary policy will be maintained until inflation outlook displays a significant improvement. Inflation expectations, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered.

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


Central Bank of Turkey | Yekaterina Guchshina | yekaterina@tradingeconomics.com
4/26/2017 11:14:35 AM



Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 12.60 12.60 21.07 4.74 percent [+]
Money Supply M1 419127389.90 401173247.10 419127389.90 55562063.00 TRY Thousand [+]
Money Supply M2 1468654893.60 1441642897.00 1468654893.60 236620702.00 TRY Thousand [+]
Money Supply M3 1512986746.80 1485452674.00 1512986746.80 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 128609.80 131062.70 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2789143407.00 2656148741.00 2789143407.00 15859.80 TRY Thousand [+]
Loans to Private Sector 959618362.00 932533785.00 959618362.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 14.60 14.92 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 44560.00 43895.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.00 13.00 9.00 percent [+]
Central Bank Balance Sheet 549827724.00 560273473.00 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 May of 2017.

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



interest rate by Country

Last
Brazil 11.25 Apr/17
Russia 9.25 Apr/17
Turkey 8.00 Apr/17
Mexico 6.75 May/17
India 6.25 Apr/17
Indonesia 4.75 May/17
China 4.35 Apr/17
Australia 1.50 May/17
South Korea 1.25 May/17
United States 1.00 May/17
Canada 0.50 May/17
United Kingdom 0.25 May/17
Euro Area 0.00 May/17
France 0.00 May/17
Germany 0.00 May/17
Italy 0.00 May/17
Netherlands 0.00 May/17
Spain 0.00 May/17
Japan -0.10 Apr/17
Switzerland -0.75 May/17