CBRTDecision of September 10, 2026
CBRT Policy Rate
The CBRT’s one-week repo auction rate anchors deposit, loan and fund yields. The Monetary Policy Committee (MPC) meets eight times a year and announces its decision at 14:00 Istanbul time.
- Previous decision
- 37.00%
- Annual CPI
- 31.49%
- Real rate
- 5.51 pp
Next meeting: October 22 14:00 (24 days)
At its MPC meeting on September 10, 2026, the CBRT held the policy rate at 37.00%.
With annual inflation at 31.49%, the real policy rate is 5.51 pp.
The next decision is due on October 22 at 14:00 Istanbul time.
Policy rate and annual CPI
- Policy rate
- Annual CPI
Recent rate decisions
| Decision date | Actual | Previous | Change (pp) |
|---|---|---|---|
| October 22, 2026 14:00 | — | 37.00% | — |
| September 10, 2026 | 37.00% | 37.00% | 0.00 |
| July 23, 2026 | 37.00% | 37.00% | 0.00 |
| June 11, 2026 | 37.00% | 37.00% | 0.00 |
| April 22, 2026 | 37.00% | 37.00% | 0.00 |
| March 12, 2026 | 37.00% | 37.00% | 0.00 |
| January 22, 2026 | 37.00% | 38.00% | −1.00 |
| December 11, 2025 | 38.00% | 39.50% | −1.50 |
| October 23, 2025 | 39.50% | 40.50% | −1.00 |
| September 11, 2025 | 40.50% | 43.00% | −2.50 |
| July 24, 2025 | 43.00% | 46.00% | −3.00 |
| June 19, 2025 | 46.00% | 46.00% | 0.00 |
| April 17, 2025 | 46.00% | 42.50% | 3.50 |
| March 06, 2025 | 42.50% | 45.00% | −2.50 |
| January 23, 2025 | 45.00% | 47.50% | −2.50 |
| December 26, 2024 | 47.50% | 50.00% | −2.50 |
| November 21, 2024 | 50.00% | 50.00% | 0.00 |
| October 17, 2024 | 50.00% | 50.00% | 0.00 |
| September 19, 2024 | 50.00% | 50.00% | 0.00 |
| August 20, 2024 | 50.00% | 50.00% | 0.00 |
| July 23, 2024 | 50.00% | 50.00% | 0.00 |
| June 27, 2024 | 50.00% | 50.00% | 0.00 |
| May 23, 2024 | 50.00% | 50.00% | 0.00 |
| April 25, 2024 | 50.00% | 50.00% | 0.00 |
| March 21, 2024 | 50.00% | 45.00% | 5.00 |
2026 MPC meeting calendar
| Meeting date | Status | Announced rate |
|---|---|---|
| January 22, 2026 | Announced | 37.00% |
| March 12, 2026 | Announced | 37.00% |
| April 22, 2026 | Announced | 37.00% |
| June 11, 2026 | Announced | 37.00% |
| July 23, 2026 | Announced | 37.00% |
| September 10, 2026 | Announced | 37.00% |
| October 22, 2026 | Upcoming | — |
| December 10, 2026 | Upcoming | — |
Related indicators
Real return
- Annual CPI
- 31.49%
- Policy rate
- 37.00%
About the policy rate
The policy rate of the Central Bank of the Republic of Türkiye (CBRT) is the one-week repo auction rate set at Monetary Policy Committee (MPC) meetings. This page shows the current rate, the next meeting date, the 2026 MPC calendar, the last 24 decisions and the change at each decision.
Frequently asked questions
When is the next CBRT rate decision?
The next MPC meeting is on October 22, 2026; the rate decision is announced the same day at 14:00 Istanbul time (UTC+3).
What time is the rate decision announced?
MPC rate decisions are published on the CBRT website at 14:00 Istanbul time (UTC+3) on the meeting day. The decision text is released at the same moment and the meeting summary follows in the days after.
2026 MPC meeting calendar
The CBRT’s 2026 MPC meeting dates are: January 22, 2026, March 12, 2026, April 22, 2026, June 11, 2026, July 23, 2026, September 10, 2026, October 22, 2026, December 10, 2026. Decisions are announced at 14:00 Istanbul time on each meeting day.
What is the current CBRT policy rate?
The CBRT policy rate stands at 37.00% as of the decision dated September 10, 2026.
When did the rate last change?
The policy rate was last lowered on January 22, 2026, from 38.00% to 37.00%.
How does the policy rate affect deposit rates and fund returns?
Banks price deposits and loans largely off the policy rate; a hike lifts deposit yields and the daily return of money market funds, a cut lowers them. Because bond prices move inversely to rates, a cut tends to help bond funds, and it usually supports equity valuations as the discount rate falls.
What is the policy rate?
The policy rate is the rate the CBRT applies to banks in one-week repo auctions. It is the central bank’s main tool for price stability and directly shapes inflation expectations, borrowing costs and the appeal of the Turkish lira.