Türkiye: central bank policy rate

Last updated: Oct 9, 2026 11:15 UTC

Policy rate37.00%Oct 2, 2026

For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.

SinceJan 23, 2026cut -100 bp

1 year ago40.50%

Last 2 years (daily values)

Policy rate since 2000 (month-end values)

All changes since 2000

Date	From	To	Change
Jan 23, 2026	38.00%	37.00%	cut -100 bp
Dec 12, 2025	39.50%	38.00%	cut -150 bp
Oct 24, 2025	40.50%	39.50%	cut -100 bp
Sep 12, 2025	43.00%	40.50%	cut -250 bp
Jul 25, 2025	46.00%	43.00%	cut -300 bp
Apr 18, 2025	42.50%	46.00%	hike +350 bp
Mar 7, 2025	45.00%	42.50%	cut -250 bp
Jan 24, 2025	47.50%	45.00%	cut -250 bp
Dec 27, 2024	50.00%	47.50%	cut -250 bp
Mar 22, 2024	45.00%	50.00%	hike +500 bp
Jan 26, 2024	42.50%	45.00%	hike +250 bp
Dec 22, 2023	40.00%	42.50%	hike +250 bp
Nov 24, 2023	35.00%	40.00%	hike +500 bp
Oct 27, 2023	30.00%	35.00%	hike +500 bp
Sep 22, 2023	25.00%	30.00%	hike +500 bp
Aug 25, 2023	17.50%	25.00%	hike +750 bp
Jul 21, 2023	15.00%	17.50%	hike +250 bp
Jun 23, 2023	8.50%	15.00%	hike +650 bp
Feb 24, 2023	9.00%	8.50%	cut -50 bp
Nov 25, 2022	10.50%	9.00%	cut -150 bp
Oct 21, 2022	12.00%	10.50%	cut -150 bp
Sep 23, 2022	13.00%	12.00%	cut -100 bp
Aug 19, 2022	14.00%	13.00%	cut -100 bp
Dec 17, 2021	15.00%	14.00%	cut -100 bp
Nov 19, 2021	16.00%	15.00%	cut -100 bp
Oct 22, 2021	18.00%	16.00%	cut -200 bp
Sep 24, 2021	19.00%	18.00%	cut -100 bp
Mar 19, 2021	17.00%	19.00%	hike +200 bp
Dec 25, 2020	15.00%	17.00%	hike +200 bp
Nov 20, 2020	10.25%	15.00%	hike +475 bp
Sep 25, 2020	8.25%	10.25%	hike +200 bp
May 22, 2020	8.75%	8.25%	cut -50 bp
Apr 23, 2020	9.75%	8.75%	cut -100 bp
Mar 18, 2020	10.75%	9.75%	cut -100 bp
Feb 20, 2020	11.25%	10.75%	cut -50 bp
Jan 17, 2020	12.00%	11.25%	cut -75 bp
Dec 13, 2019	14.00%	12.00%	cut -200 bp
Oct 25, 2019	16.50%	14.00%	cut -250 bp
Sep 13, 2019	19.75%	16.50%	cut -325 bp
Jul 26, 2019	24.00%	19.75%	cut -425 bp
Sep 14, 2018	17.75%	24.00%	hike +625 bp
Jun 8, 2018	16.50%	17.75%	hike +125 bp
Jun 1, 2018	8.00%	16.50%	hike +850 bp
Nov 25, 2016	7.50%	8.00%	hike +50 bp
Feb 25, 2015	7.75%	7.50%	cut -25 bp
Jan 21, 2015	8.25%	7.75%	cut -50 bp
Jul 18, 2014	8.75%	8.25%	cut -50 bp
Jun 25, 2014	9.50%	8.75%	cut -75 bp
May 23, 2014	10.00%	9.50%	cut -50 bp
Jan 29, 2014	4.50%	10.00%	hike +550 bp
May 17, 2013	5.00%	4.50%	cut -50 bp
Apr 17, 2013	5.50%	5.00%	cut -50 bp
Dec 19, 2012	5.75%	5.50%	cut -25 bp
Aug 5, 2011	6.25%	5.75%	cut -50 bp
Jan 21, 2011	6.50%	6.25%	cut -25 bp
Dec 17, 2010	7.00%	6.50%	cut -50 bp
May 20, 2010	6.50%	7.00%	hike +50 bp
Nov 20, 2009	6.75%	6.50%	cut -25 bp
Oct 16, 2009	7.25%	6.75%	cut -50 bp
Sep 18, 2009	7.75%	7.25%	cut -50 bp
Aug 19, 2009	8.25%	7.75%	cut -50 bp
Jul 17, 2009	8.75%	8.25%	cut -50 bp
Jun 17, 2009	9.25%	8.75%	cut -50 bp
May 15, 2009	9.75%	9.25%	cut -50 bp
Apr 17, 2009	10.50%	9.75%	cut -75 bp
Mar 20, 2009	11.50%	10.50%	cut -100 bp
Feb 20, 2009	13.00%	11.50%	cut -150 bp
Jan 16, 2009	15.00%	13.00%	cut -200 bp
Dec 19, 2008	16.25%	15.00%	cut -125 bp
Nov 20, 2008	16.75%	16.25%	cut -50 bp
Jul 18, 2008	16.25%	16.75%	hike +50 bp
Jun 17, 2008	15.75%	16.25%	hike +50 bp
May 16, 2008	15.25%	15.75%	hike +50 bp
Feb 15, 2008	15.50%	15.25%	cut -25 bp
Jan 18, 2008	15.75%	15.50%	cut -25 bp
Dec 14, 2007	16.25%	15.75%	cut -50 bp
Nov 15, 2007	16.75%	16.25%	cut -50 bp
Oct 17, 2007	17.25%	16.75%	cut -50 bp
Sep 14, 2007	17.50%	17.25%	cut -25 bp
Jul 21, 2006	17.25%	17.50%	hike +25 bp
Jun 26, 2006	15.00%	17.25%	hike +225 bp
Jun 8, 2006	13.25%	15.00%	hike +175 bp
Apr 28, 2006	13.50%	13.25%	cut -25 bp
Dec 9, 2005	13.75%	13.50%	cut -25 bp
Nov 9, 2005	14.00%	13.75%	cut -25 bp
Oct 11, 2005	14.25%	14.00%	cut -25 bp
Jun 9, 2005	14.50%	14.25%	cut -25 bp
May 10, 2005	15.00%	14.50%	cut -50 bp
Apr 11, 2005	15.50%	15.00%	cut -50 bp
Mar 9, 2005	16.50%	15.50%	cut -100 bp
Feb 9, 2005	17.00%	16.50%	cut -50 bp
Jan 11, 2005	18.00%	17.00%	cut -100 bp
Dec 20, 2004	20.00%	18.00%	cut -200 bp
Sep 8, 2004	22.00%	20.00%	cut -200 bp
Mar 17, 2004	24.00%	22.00%	cut -200 bp
Feb 5, 2004	26.00%	24.00%	cut -200 bp
Oct 15, 2003	29.00%	26.00%	cut -300 bp
Sep 18, 2003	32.00%	29.00%	cut -300 bp
Aug 6, 2003	35.00%	32.00%	cut -300 bp
Jul 16, 2003	38.00%	35.00%	cut -300 bp
Jun 4, 2003	41.00%	38.00%	cut -300 bp
Apr 25, 2003	44.00%	41.00%	cut -300 bp
Nov 11, 2002	46.00%	44.00%	cut -200 bp
Aug 5, 2002	48.00%	46.00%	cut -200 bp
Apr 30, 2002	51.00%	48.00%	cut -300 bp
Apr 8, 2002	54.00%	51.00%	cut -300 bp
Mar 14, 2002	57.00%	54.00%	cut -300 bp

Which rate is shown (BIS notes, in English)

From 20 May 2010 onwards: 1 week official repo rate; from 20 Feb 2002 to 19 May 2010: Central Bank overnight borrowing rate.

This rate can be considered the official policy rate as from 20 May 2010. http://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/announcements/press+releases/2018/ano2018-21

Changes by year

Method

We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).

About this page

The policy rate of Türkiye is 37.00% (BIS data as of Oct 2, 2026).