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CBRT repo interest rate - Turkish central bank’s interest rate
Charts - historic CBRT interest rates
Graph Turkish interest rate CBRT - interest rates last year |
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Graph Turkish interest rate CBRT - long-term graph |
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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 repo interest rate
When reference is made to the Turkish interest rate this usually refers to the CBRT repo interest rate (1 week). The Turkish central bank uses this base rate for monetary policy purposes. The level of the repo 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 repo 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
| september 22 2023 |
30.000 % |
| august 24 2023 |
25.000 % |
| july 20 2023 |
17.500 % |
| june 22 2023 |
15.000 % |
| february 23 2023 |
8.500 % |
| november 24 2022 |
9.000 % |
| october 20 2022 |
10.500 % |
| september 22 2022 |
12.000 % |
| august 18 2022 |
13.000 % |
| december 16 2021 |
14.000 % |
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Summary of other central banks’ interest rates
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