Central Bank RatesTürkiye policy rate in 2023 (8 changes)
Start of year9.00%
End of year42.50%Dec 29, 2023
Net change+3350 bp7 hikes, 1 cuts
Average18.658%
Rank by level1 / 38
Changes in 2023
| Date | From | To | Change |
|---|---|---|---|
| Feb 24, 2023 | 9.00% | 8.50% | cut -50 bp |
| Jun 23, 2023 | 8.50% | 15.00% | hike +650 bp |
| Jul 21, 2023 | 15.00% | 17.50% | hike +250 bp |
| Aug 25, 2023 | 17.50% | 25.00% | hike +750 bp |
| Sep 22, 2023 | 25.00% | 30.00% | hike +500 bp |
| Oct 27, 2023 | 30.00% | 35.00% | hike +500 bp |
| Nov 24, 2023 | 35.00% | 40.00% | hike +500 bp |
| Dec 22, 2023 | 40.00% | 42.50% | hike +250 bp |
Compared with other areas at the end of 2023
42.5%
16%
13%
11.75%
11.25%
10.75%
9.25%
8.25%
8.25%
7%
6.75%
6.75%
6.5%
6.5%
6.5%
6.3%
6%
6%
5.75%
5.75%
5.5%
5.375%
5.25%
5%
4.75%
4.5%
4.5%
4.35%
4.25%
4%
3.6%
3.5%
3.45%
3%
3%
2.5%
1.75%
-0.1%
Year-end rate over time
37%
38%
47.5%
42.5%
9%
14%
17%
12%
24%
8%
8%
7.5%
8.25%
4.5%
5.5%
5.75%
6.5%
6.5%
15%
15.75%
17.5%
13.5%
18%
26%
44%
2023: hikes and cuts worldwide →
Daily policy-rate data compiled by the BIS. Not investment advice.