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

The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent and raised its late liquidity window rate by a less-than-expected 50bps to 12.75 percent on December 14th, in an attempt to curb rising inflation amid strong economic growth. Annual inflation rate hit a 14-year peak of 12.98 percent last month, way above the central bank's target of 5 percent, and core inflation hit a near record high of 12.08 percent. Interest Rate in Turkey averaged 59.21 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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Turkey Hikes Late Liquidity Window Rate to 12.75%


The Central Bank of Turkey held its benchmark one-week repo rate at 8 percent and raised its late liquidity window rate by a less-than-expected 50bps to 12.75 percent on December 14th, in an attempt to curb rising inflation amid strong economic growth. Annual inflation rate hit a 14-year peak of 12.98 percent last month, way above the central bank's target of 5 percent, and core inflation hit a near record high of 12.08 percent.

The overnight lending rate was kept at 9.25 percent and the overnight borrowing rate at 7.25 percent.

Statement by the Central Bank of the Republic of Turkey:

During year 2017, aggregate demand conditions have displayed a strong course and credit has shown rapid growth. Recently released data indicate that economic activity maintains its strength. Domestic demand conditions keep improving and external demand continues to contribute positively to exports.

Current elevated levels of inflation and recent developments in cost factors have increased the risks on expectations and the pricing behavior. Accordingly, the Committee decided to tighten the monetary policy stance.

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 decisively until inflation outlook displays a significant improvement and becomes consistent with the targets. 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 | Joana Ferreira |
12/14/2017 11:14:25 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-14 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-10-26 11:00 AM TCMB Interest Rate Decision 8.00% 8% 8% 8%
2017-12-14 11:00 AM TCMB Interest Rate Decision 8% 8% 8% 8%
2017-12-21 11:00 AM Monetary Policy Meeting Minutes
2018-01-24 11:00 AM TCMB Interest Rate Decision
2018-01-31 11:00 AM CBRT Inflation Report


Turkey Money Last Previous Highest Lowest Unit
Interest Rate 8.00 8.00 500.00 4.50 percent [+]
Interbank Rate 14.53 14.26 21.07 4.74 percent [+]
Money Supply M1 437225236.40 429953387.30 437425430.50 55562063.00 TRY Thousand [+]
Money Supply M2 1630640154.00 1596029616.80 1630640154.00 236620702.00 TRY Thousand [+]
Money Supply M3 1683119336.30 1647707293.40 1683119336.30 260092810.00 TRY Thousand [+]
Foreign Exchange Reserves 135226.30 135005.40 150428.70 1240.00 USD Million [+]
Banks Balance Sheet 2975887334.00 2916962101.00 2975887334.00 15859.80 TRY Thousand [+]
Loans to Private Sector 1057334632.00 1029651497.00 1057334632.00 3402.30 TRY Thousand [+]
Deposit Interest Rate 7.25 7.25 398.10 1.50 percent [+]
Private Debt to GDP 160.40 151.30 160.40 131.20 percent [+]
Lending Rate 9.25 9.25 2300.00 6.50 percent [+]
Foreign Stock Investment 48018.00 45488.00 82048.00 0.00 USD Million [+]
Cash Reserve Ratio 12.00 12.00 13.00 9.00 percent [+]
Central Bank Balance Sheet 636534271.00 604075299.00 636534271.00 9071.00 TRY Thousand [+]


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). 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 December 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
Country Last
Turkey 8.00 Dec/17
Russia 7.75 Dec/17
Mexico 7.25 Dec/17
Brazil 7.00 Dec/17
India 6.00 Dec/17
China 4.35 Nov/17
Indonesia 4.25 Dec/17
Australia 1.50 Dec/17
South Korea 1.50 Nov/17
United States 1.50 Dec/17
Canada 1.00 Dec/17
United Kingdom 0.50 Dec/17
Euro Area 0.00 Dec/17
France 0.00 Dec/17
Germany 0.00 Dec/17
Italy 0.00 Dec/17
Netherlands 0.00 Dec/17
Spain 0.00 Dec/17
Japan -0.10 Oct/17
Switzerland -0.75 Dec/17