The Central Bank of the Republic of Turkey (CBRT) will announce its next interest rate decision on Thursday, October 22, at 14:00 local time, according to the bank's published meeting calendar.
The one-week repo rate, the bank's main policy rate, has stood at 37% since early 2026. The Monetary Policy Committee left it unchanged on September 10, the fifth consecutive hold. The overnight lending rate is 40% and the overnight borrowing rate is 35.5%.
Why the bank paused
The CBRT cut rates by a total of 900 basis points between June 2025 and January 2026. It then paused as energy prices rose and geopolitical uncertainty increased; in July, Brent crude reached around $100 a barrel. At that meeting the bank said it would keep a tight stance until price stability is achieved.
In September, the bank said recent data and leading indicators pointed to easing underlying price pressures.
What has changed since September
Annual inflation has continued to slow. It fell from 31.75% in July to 31.5% in August and then to 29.73% in September, below market expectations. Some analysts have said conditions are moving toward a resumption of rate cuts.
Before the September meeting, economists surveyed by AA Finans expected a median policy rate of 35% by the end of 2026, which would imply 200 basis points of cuts over the remaining meetings.
Why it matters
The policy rate feeds directly into loan, mortgage and deposit rates. A cut would ease borrowing costs for households and businesses, including buyers financing property purchases, while lowering returns on Turkish lira deposits.
Turkey Daily News will report the decision when it is announced.
Sources
- Milliyet Uzmanpara: October 2026 CBRT rate decision date
- Central Banking: Turkey holds rates for fifth consecutive meeting
- FocusEconomics: Central bank leaves rates unchanged in July
- Milliyet Uzmanpara: September 2026 rate decision expectations
Photo: Vikiçizer / CC BY-SA 3.0, via Wikimedia Commons
