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Turkey Interest Rate: Central Bank Policy Rate and Decisions

The policy rate of the Central Bank of the Republic of Türkiye is the rate of its one-week repo auctions. It changes with the decisions of the Monetary Policy Committee and steers deposit and loan rates.

The central bank's policy rate (one-week repo auction rate) is 36.00%, in effect since 23 October 2026. The rate was cut by 100 basis points from 37.00%. The central bank's weighted average cost of funding was 36.00% on 26 October 2026 and BIST TLREF 35.84% on 26 October 2026.

Policy rate

36.00%

since 23 October 2026

Average cost of funding

36.00%

26 October 2026

BIST TLREF

35.84%

26 October 2026

Read from the central bank table: Oct 27, 2026, 17:00

Policy rate chart

27 October 2026

  • Policy rate36.00%

The policy rate: latest 36.00% (23 October 2026). Between 20 May 2010 and 23 October 2026, the highest was 50.00% (22 March 2024) and the lowest 4.50% (17 May 2013).

Policy rate changes

Each row is the date a change took effect and the new rate; meetings that left the rate unchanged are not listed.

Policy rate changes, newest first
Effective datePolicy rateChange (basis points)
23 October 202636.00%−100
23 January 202637.00%−100
12 December 202538.00%−150
24 October 202539.50%−100
12 September 202540.50%−250
25 July 202543.00%−300
18 April 202546.00%+350
7 March 202542.50%−250
24 January 202545.00%−250
27 December 202447.50%−250
22 March 202450.00%+500
26 January 202445.00%+250
22 December 202342.50%+250
24 November 202340.00%+500
27 October 202335.00%+500
22 September 202330.00%+500
25 August 202325.00%+750
21 July 202317.50%+250
23 June 202315.00%+650
24 February 20238.50%−50
25 November 20229.00%−150
21 October 202210.50%−150
23 September 202212.00%−100
19 August 202213.00%−100
17 December 202114.00%−100
19 November 202115.00%−100
22 October 202116.00%−200
24 September 202118.00%−100
19 March 202119.00%+200
25 December 202017.00%+200
20 November 202015.00%+475
25 September 202010.25%+200
22 May 20208.25%−50
23 April 20208.75%−100
18 March 20209.75%−100
20 February 202010.75%−50
17 January 202011.25%−75
13 December 201912.00%−200
25 October 201914.00%−250
13 September 201916.50%−325
26 July 201919.75%−425
14 September 201824.00%+625
8 June 201817.75%+125
1 June 201816.50%+850
25 November 20168.00%+50
25 February 20157.50%−25
21 January 20157.75%−50
18 July 20148.25%−50
25 June 20148.75%−75
23 May 20149.50%−50
29 January 201410.00%+550
17 May 20134.50%−50
17 April 20135.00%−50
19 December 20125.50%−25
5 August 20115.75%−50
21 January 20116.25%−25
17 December 20106.50%−50
20 May 20107.00%—

Last 10 business days: funding cost and TLREF

Daily central bank average cost of funding and BIST TLREF
DateCost of fundingBIST TLREF
26 October 202636.00%35.84%
23 October 202636.04%35.85%
22 October 202637.00%36.88%
21 October 202637.00%36.85%
20 October 202637.00%36.82%
19 October 202637.00%36.77%
16 October 202637.00%36.80%
15 October 202637.00%36.79%
14 October 202637.00%36.77%
13 October 202637.00%36.84%

What the figures show

  • Policy rate: the rate of the central bank's one-week repo auctions. The table is the list of changes the central bank publishes; dates are the days a decision took effect.
  • Weighted average cost of funding: the average cost of the funding the central bank gave banks that day; it can differ from the policy rate when funding comes through other maturities.
  • BIST TLREF: the Turkish lira overnight reference rate, calculated from overnight repo trades on Borsa Istanbul.

Source: Central Bank of the Republic of Türkiye (one-week repo rate table; Electronic Data Delivery System (EVDS): weighted average cost of funding); Borsa Istanbul (BIST TLREF, via EVDS).

Related pages

Frequently asked questions

What is the Turkish central bank interest rate now?

The policy rate is 36.00%, in effect since 23 October 2026.

What is the policy rate?

It is the rate at which the central bank lends to banks in its one-week repo auctions, the main tool of monetary policy: it is raised to fight inflation and cut to ease.

When does the central bank announce its rate decision?

Decisions are taken by the Monetary Policy Committee, which meets on a calendar the central bank announces in advance each year; the decision is published on the day of the meeting. This page follows once the central bank updates its rate table.

How does the policy rate affect deposit and loan rates?

It sets the funding cost of banks, so changes pass to deposit and loan rates over time. Current banking averages are on the deposit and loan rate pages.

What is TLREF?

The Turkish lira overnight reference rate, calculated from overnight repo trades on Borsa Istanbul and used as a benchmark for floating-rate products.