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Turkey Interest Rate

Turkey's interest rate decreased to 39.5% in October 2025 from 40.5% in September 2025. This 100 basis point reduction occurred despite annual inflation rising to 33.29% in September 2025. The Central Bank stated that while demand conditions remained disinflationary, the disinflation process showed signs of slowing. Increased risks from food prices and inflation expectations prompted a more cautious monetary easing approach. Turkey's record low interest rate was 4.5% in May 2013 and record high was 50% in March 2024.

Historical Data (2010-2025)

(in %)
Date Interest Rate
Oct 23, 2025 39.5%
Sep 11, 2025 40.5%
Jul 24, 2025 43%
Jun 19, 2025 46%
Apr 17, 2025 46%
Mar 06, 2025 42.5%
Jan 23, 2025 45%
Dec 26, 2024 47.5%
Nov 21, 2024 50%
Oct 17, 2024 50%
Aug 22, 2024 50%
Jul 25, 2024 50%
Jun 27, 2024 50%
May 23, 2024 50%
Apr 25, 2024 50%
Mar 21, 2024 50%
Jan 25, 2024 45%
Dec 21, 2023 42.5%
Oct 26, 2023 35%
Sep 22, 2023 30%
Aug 24, 2023 25%
Jul 20, 2023 17.5%
May 25, 2023 8.5%
Mar 23, 2023 8.5%
Feb 23, 2023 8.5%
Jan 19, 2023 9%
Nov 24, 2022 9%
Oct 20, 2022 10.5%
Sep 22, 2022 12%
Aug 18, 2022 13%
Jun 23, 2022 14%
May 26, 2022 14%
Apr 14, 2022 14%
Feb 17, 2022 14%
Jan 20, 2022 14%
Dec 16, 2021 14%
Nov 18, 2021 15%
Oct 21, 2021 16%
Sep 23, 2021 18%
Aug 12, 2021 19%
Jun 17, 2021 19%
May 06, 2021 19%
Mar 18, 2021 19%
Feb 18, 2021 17%
Jan 21, 2021 17%
Dec 24, 2020 17%
Nov 19, 2020 15%
Sep 24, 2020 10.25%
Aug 20, 2020 8.25%
Jun 25, 2020 8.25%
May 21, 2020 8.25%
Apr 22, 2020 8.75%
Mar 17, 2020 9.75%
Feb 19, 2020 10.75%
Jan 16, 2020 11.25%
Dec 12, 2019 12%
Oct 24, 2019 14%
Sep 12, 2019 16.5%
Jul 25, 2019 19.75%
Jun 12, 2019 24%
Apr 25, 2019 24%
Mar 06, 2019 24%
Jan 16, 2019 24%
Dec 13, 2018 24%
Oct 25, 2018 24%
Sep 13, 2018 24%
Jul 24, 2018 17.75%
Jun 07, 2018 17.75%
Apr 25, 2018 8%
Mar 07, 2018 8%
Jan 18, 2018 8%
Dec 14, 2017 8%
Oct 26, 2017 8%
Sep 14, 2017 8%
Jul 27, 2017 8%
Jun 15, 2017 8%
Apr 26, 2017 8%
Mar 16, 2017 8%
Jan 20, 2017 8%
Nov 24, 2016 8%
Oct 20, 2016 7.5%
Aug 23, 2016 7.5%
Jul 19, 2016 7.5%
May 24, 2016 7.5%
Apr 20, 2016 7.5%
Feb 24, 2016 7.5%
Jan 20, 2016 7.5%
Nov 24, 2015 7.5%
Oct 21, 2015 7.5%
Sep 22, 2015 7.5%
Feb 24, 2015 7.5%
Jan 20, 2015 7.75%
Jul 18, 2014 8.25%
Jun 25, 2014 8.75%
May 22, 2014 9.5%
Jan 29, 2014 10%
May 17, 2013 4.5%
Apr 17, 2013 5%
Dec 19, 2012 5.5%
Aug 05, 2011 5.75%
Jan 21, 2011 6.25%
Dec 17, 2010 6.5%
May 20, 2010 7%

Recent Events

datetime event actual previous consensus
2025-10-23 07:00 AM TCMB Interest Rate Decision 39.5% 40.5% 39.5%
2025-09-11 07:00 AM TCMB Interest Rate Decision 40.5% 43% 41%
2021-02-18 06:00 AM TCMB Interest Rate Decision 17% 17% 17%

Next Release Date :

Turkey Interest Rate : Definition
The Interest Rate set by the Central Bank of the Republic of Turkey is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -0.8% -3.5% Dec'24
Debt to GDP Ratio 24.7% 29.3% Dec'24
Private Credit (% GDP) 44.19% 49.89% 2024