The Central Bank of Turkey lowered its one-week repo rate by 100 bps to 18% during its September meeting, contrary to expectations that rate would be left unchanged, claiming that the tightness of the monetary policy stance had created a larger-than-expected contractionary effect on commercial loans. Additionally, the central bank said it was committed to strengthen the macroprudential policy framework to curb personal loan growth. Policymakers noted that the increase in inflation was still transitory and driven by the rise in food and import prices, due to supply constraints and an expansion in demand following the reopening of the economy. The committee added that domestic economic activity remained strong in Q3, supported by external demand, while the quickening vaccination drive enabled a faster recovery in services, tourism and related sectors. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey averaged 58.24 percent from 1990 until 2021, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013. 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 - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
Interest Rate in Turkey is expected to be 19.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Interest Rate is projected to trend around 12.50 percent in 2022, according to our econometric models.