1-Week Repo Rate in Turkey
Turkey's central bank policy rates from 2013 to 2022 were marked by volatility. Political influence on the central bank led to unorthodox monetary policies, including substantial rate cuts despite high inflation. By 2022, these policies resulted in a severely weakened Lira and soaring inflation, prompting criticism of the central bank's independence and effectiveness in monetary policy management.
The 1-Week Repo Rate ended 2022 at 9.00%, down from the 14.00% end-2021 value, but up from 4.50% a decade earlier. For reference, the average 1-Week Repo Rate in Eastern Europe was 8.40% at the end of 2022. For more interest rate information, visit our dedicated page.
Turkey Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Turkey from 2021 to 2020.
Source: Macrobond.
Turkey Interest Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| 1-Week Repo Rate (%, eop) | 12.00 | 17.00 | 14.00 | 9.00 | 42.50 |
| 10-Year Bond Yield (%, eop) | 12.00 | 12.51 | 23.05 | 9.87 | 23.69 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish interest rate projections for the next ten years from a panel of 21 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Turkish interest rate.
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