The Central Bank of Turkey raised its benchmark one-week repo rate by 475 bps to 15 percent during its November meeting, saying the tightness of monetary policy will be decisively sustained until a permanent fall in inflation is achieved. Policymakers also said that the central funding will be provided through the one-week repo rate, which will be the main policy tool and the only indicator for the monetary stance. On a more positive note, the central bank noted that the recovery in Turkey's economic activity continued, despite uncertainties on the short-run outlook due to partial restrictions introduced to curb the increasing number of COVID-19 cases. source: Central Bank of the Republic of Turkey
Interest Rate in Turkey averaged 58.44 percent from 1990 until 2020, 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 December of 2020.
Interest Rate in Turkey is expected to be 16.50 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 16.50 in 12 months time. In the long-term, the Turkey Interest Rate is projected to trend around 15.00 percent in 2021 and 12.50 percent in 2022, according to our econometric models.