The Central Bank of Turkey held its benchmark one-week repo rate at 7.5 percent on October 20th, as widely expected, and its overnight lending rate was unexpectedly left unchanged at 8.25 percent following seven consecutive cuts. Policymakers agreed that a cautious monetary policy stance had to be maintained as a weaker lira and other cost factors restrained the improvement in inflation outlook. The bank also said that the direction and the timing of the next step in the monetary policy would be data dependent. Inflation was last recorded at 7.3 percent in September, well above central bank's 5 percent target. Interest Rate in Turkey averaged 59.57 percent from 1990 until 2016, reaching an all time high of 500 percent in March of 1994 and a record low of 4.50 percent in May of 2013. Interest Rate in Turkey is reported by the Central Bank of the Republic of Turkey. In Turkey, benchmark interest rates are set by the Central Bank of the Republic of Turkey Monetary Policy Committee (Türkiye Cumhuriyet Merkez Bankasi - TCMB). Since May 18, 2010 the main interest rate is 1 Week Repo Lending Rate. This page provides the latest reported value for - Turkey Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.