Central Bank of Türkiye Holds Policy Rate at 37%

The Central Bank of the Republic of Türkiye maintained its one-week repo rate at 37% on July 23, 2026, marking the fourth consecutive meeting without a policy rate change. The bank also held its overnight lending rate at 40% and the overnight borrowing rate at 35.5%.

The Monetary Policy Committee reported that annual consumer inflation fell to 32.11% in June, noting a slight ease in the underlying inflation trend and a weakening of domestic demand. However, officials cautioned that geopolitical uncertainty regarding the war in the Middle East is driving energy prices higher.

Bank officials stated they will maintain a tight monetary policy stance until price stability is achieved. The bank remains prepared to tighten policy further if the inflation outlook deteriorates in a significant and persistent manner.