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Turkey's Central Bank Cuts Interest Rate to 43%
TURKEY, JUL 24 – The central bank cut the key interest rate by 3 percentage points to 43% as inflation eased from 75% last year to about 35%, aiming to support economic stability.
- Thursday, Turkey's central bank cut the one-week repo rate by 300 bps to 43%, resuming easing as inflation continued to decline.
- In April, following market pressure after the arrest of Istanbul's opposition mayor, the central bank raised its rate to 46%, while inflation declined from 75% to 35.05% in June.
- Technical adjustments included cuts to overnight rates, and the lira remained stable at 40.48 per dollar after the decision.
- In its statement, the bank said it 'closely monitored' geopolitical developments and rising trade protectionism, and pledged to create the monetary and financial conditions necessary to reach the five percent inflation target in the medium term.
- On September 11, 2025, the MPC cuts the policy rate to 36% by end of 2025, with economists expecting further easing, Reuters poll shows.
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The Central Bank has reduced monthly reference rates on the monthly maximum contracted interest rates to be applied in credit card transactions in TL.
Coverage Details
Total News Sources20
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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