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CBRT Policy Rate (One-Week Repo Auction Rate) - Türkiye
- Last updated: — policy rate data and historical series refreshed automatically each day.
The Central Bank of the Republic of Türkiye (CBRT) uses the one-week repo auction rate as its main policy instrument to steer short-term Turkish lira (TRY) funding conditions and guide disinflation. Policy decisions are taken by the Monetary Policy Committee (MPC) on a pre-announced schedule and published with a same-day rationale.
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Note: The One-Week Repo Auction Rate is the interest rate at which the Central Bank of the Republic of Türkiye lends funds to commercial banks for a period of one week. It is the primary monetary policy tool used to manage inflation and stabilize the value of the Turkish lira.
What is the CBRT policy rate (one-week repo auction rate)?
The policy rate in Türkiye refers to the one-week repo auction rate, which the CBRT uses as its primary policy instrument. It is the benchmark rate that anchors short-term lira funding conditions and guides the broader interest-rate corridor.
Who decides the rate and what they’re trying to achieve?
The CBRT’s Monetary Policy Committee sets the policy rate within an inflation targeting framework. The inflation target is determined jointly with the government, and the medium-term target is 5 percent. The CBRT’s policy stance is communicated through its decision texts and inflation reporting.
Why track global policy rates?
Currency movements
Policy-rate differences between countries can drive capital flows, influencing exchange rates as investors seek higher expected returns.
Credit and funding conditions
Central bank rates affect short-term funding costs, which feed through to loans, bonds, and broader credit markets.
Market valuation cycles
Shifts in policy rates change discount rates and growth expectations, influencing equities, housing markets, and commodity prices.
Canada callout (Turkey-specific):
For Canadians, Türkiye’s rate cycle is a useful read on global risk pricing and emerging-market funding stress. Sharp moves in TRY rates and local inflation expectations can shift broader risk appetite, which can spill into commodity-linked currencies and global credit conditions.
Related Turkish benchmark rates
Overnight borrowing and lending rates (interest-rate corridor)
In addition to the one-week repo policy rate, the CBRT sets overnight rates that help define the operational corridor and influence overnight TRY market conditions.
- Frequently Asked Questions
Central Bank Rates
FAQs
The CBRT policy rate is the one-week repo auction rate, used as the main policy instrument to steer short-term TRY funding conditions.
The CBRT’s Monetary Policy Committee (MPC) sets the policy rate and publishes decisions with a rationale on the same day.
The medium-term inflation target is 5 percent, determined jointly by the CBRT and the government within the inflation targeting framework.
The MPC meets on a pre-announced schedule and can adjust the policy rate when it judges that the disinflation path and financial conditions require it.
The policy rate is the one-week repo auction rate. Overnight borrowing and lending rates help shape the operational corridor and influence overnight market pricing.
TLREF is the Turkish lira overnight reference rate designed to serve as a benchmark in financial products, debt instruments, and contracts.
On Dec 11, 2025, the CBRT reduced the policy rate (one-week repo auction rate) from 39.5% to 38%.
Some sources show announcement dates while others display effective dates or series publication timing. This page standardizes policy rate levels and effective dates as reported by official public sources.
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