Turkey Interest Rate

Last Release

Mar 06, 2025

Actual

42.5

Units In

Frequency

Daily

Next Release

Apr 17, 2025

Time to Release

1 Months 9 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
500 Mar 1994	4.5 May 2013	57.63 %	1990-2025	Central Bank of the Republic of Turkey

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.

Latest Updates

The Central Bank of Turkey cut its benchmark one-week repo auction rate by 250bps to 42.5% in February 2025, the lowest since December 2023, as expected. It follows two similar moves in December and January. The Monetary Policy Committee cited a decline in the main trend of inflation in February after January's rise (39.05% vs 42.12%). Also, domestic demand remains supportive of disinflation, and inflation expectations are improving but still pose a risk. The tight monetary policy stance will continue until inflation and price stability are achieved, with future rate decisions guided by inflation data and expectations. The Committee remains committed to using all monetary policy tools to bring inflation to the 5% medium-term target through a data-driven and transparent approach.