 |
CBRT overnight interest rate - Turkish central bank’s interest rate
Charts - historic CBRT interest rates
Graph Turkish interest rate CBRT - interest rates last year |
|
Graph Turkish interest rate CBRT - long-term graph |
|
Central Bank of the Republic of Turkey
The Central Bank of the Republic of Turkey (CBRT or CBT) is Turkey’s central bank. Another abbreviation which is also used is TCMB, which stands for Türkiye Cumhuriyet Merkez Bankasi. The Turkish central bank sets the inflation target and is responsible for defining and implementing monetary policy. The most important objective that the CBRT strives for is to achieve and maintain price stability in Turkey. For an overview of current inflation in Turkey (CPI), click here or here for current inflation in Turkey (HICP). Other important objectives for the Central Bank of the Republic of Turkey are:
- to conduct open market transactions;
- to protect the Turkish lira and be responsible for exchange rate policy;
- to establish the requirements for deposits and liquidity;
- to control Turkey’s gold and currency deposits;
- to regulate the volume and circulation of the Turkish currency, the lira;
- to maintain the stability of the financial system and monitor the financial markets.
CBRT overnight interest rate (O/N)
When reference is made to the Turkish interest rate this usually refers to the CBRT overnight interest rate (O/N). This the interbank interest rate at which funds can be lent and borrowed for a period of 1 day (overnight). The Turkish central bank uses this base rate - which can be compared to the Federal Funds Rate of the FED in America - for monetary policy purposes. The level of the overnight interest rate has a direct effect on the level of interest rates for products such as savings, loans and mortgages.
This page shows the current and historic values of the CBRT’s overnight interest rate.
For a summary of the current interest rates of a large number of central banks please click here.
Tables - current and historic Turkish central bank interest rates
CBRT latest interest rate changes
| december 17 2010 |
1.500 % |
| november 12 2010 |
1.750 % |
| october 14 2010 |
5.750 % |
| september 16 2010 |
6.250 % |
| november 19 2009 |
6.500 % |
| october 15 2009 |
6.750 % |
| september 17 2009 |
7.250 % |
| august 19 2009 |
7.750 % |
| july 17 2009 |
8.250 % |
| june 17 2009 |
8.750 % |
|
|
Summary of other central banks’ interest rates
|
|
|
|
|
|