The Central Bank of Turkey held its one week repo auction rate at 24 percent on January 16th as widely expected, saying risks on price stability continue to prevail although there was some improvement in the inflation outlook. The country's annual inflation rate fell to a four-month low of 20.3 percent in December, still way above the central bank's midpoint target of 5 percent. Interest Rate in Turkey averaged 58.91 percent from 1990 until 2019, 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 expected to be 24.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Turkey to stand at 16.75 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 9.50 percent in 2020, according to our econometric models.