Türkiye policy interest rate
The Central Bank of the Republic of Türkiye (TCMB/CBRT) policy rate — the one-week repo auction rate — set by the Monetary Policy Committee (Para Politikası Kurulu, PPK) under Law No. 1211 on the Central Bank. Eight scheduled decisions a year, announced at 14:00 Ankara time with a same-day press release; the rate corridor (overnight lending / overnight borrowing) is set alongside it.
| Current value | 37 percent |
|---|---|
| In force from | 2026-01-22 |
| Official source | CBRT Press Release on Interest Rates No. 2026-01, 22 January 2026 — 'the Committee has decided to reduce the policy rate (the one-week repo auction rate) from 38 percent to 37 percent'; level reconfirmed unchanged at 12 Mar 2026 (2026-12), 22 Apr 2026 (2026-17), 11 Jun 2026 (2026-23) and 23 Jul 2026 (2026-28) |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
SERVE THIS, NOT 50%. The brief's 'hiked to 50% in 2024' is history: 50.00% applied 21 Mar 2024 – 26 Dec 2024 and the easing cycle has since taken the policy rate to 37%. Cut 100bps from 38% to 37% on 22 Jan 2026 (release 2026-01), then HELD at 37% at every subsequent 2026 meeting — 12 Mar (2026-12), 22 Apr (2026-17), 11 Jun (2026-23) and 23 Jul 2026 (2026-28, the latest decision as of confirmation). Corridor unchanged since 22 Jan 2026: overnight lending 40.00%, overnight borrowing 35.50%. The 23 Jul 2026 statement says the underlying inflation trend eased slightly in June but is expected to rise temporarily in July, energy prices are trending up again on geopolitical developments, domestic demand is weakening, and the Committee stays tight until price stability at the 5% medium-term target, 'highly attentive to upside risks'. TRAP: the CBRT quotes three rates — take the ONE-WEEK REPO AUCTION rate (37%), not the overnight lending rate (40%), not the overnight borrowing rate (35.5%), and not the late-liquidity-window or effective funding cost. Second trap: the CBRT numbers its press releases per year, and the MPC-decision release is interleaved with the MPC MEETING SUMMARY release (e.g. 2026-05, 2026-14, 2026-19 are summaries, not decisions) — a scraper keyed on release number will pick up the wrong document. Date convention: effective_from here is the DECISION/announcement date; the new rate is first applied at the next one-week repo auction (the following business day). Next scheduled MPC decision: 10 September 2026. All decisions: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/MPC/MPC+Meeting+Decisions
Earlier values
| From | Value | Source |
|---|---|---|
| 2018-01-02 | 8 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-06-01 | 16.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-06-08 | 17.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-09-14 | 24 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-07-26 | 19.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-09-13 | 16.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-10-25 | 14 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-12-13 | 12 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-01-17 | 11.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-02-20 | 10.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-18 | 9.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-04-23 | 8.75 | Bank for International Settlements - Central Bank Policy Rat |
Get it programmatically
curl https://euroref.dev/v1/tr/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/tr/policy-rate/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/tr/policy-rateOther Türkiye series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates