Turkish Central Bank keeps repo rate at 37%

In Northern Cyprus, the decisions of the Turkish Central Bank on interest rates have become known: on 22.04.2026, the Monetary Policy Committee (MPC) of the Republic of Turkey decided not to change its policy and maintained the one-week repo rate at 37%.

The official statement notes that the one-week repo rate (policy rate) remains at 37%. Simultaneously, the Central Bank kept the interest rate corridor for overnight operations: the overnight lending rate is set at 40%, and the overnight borrowing rate at 35.5%.

The reasons for the decision in the document are linked to inflation dynamics. It is noted that the underlying inflation trend decreased in March; however, according to the regulator, preliminary data suggests it may increase slightly in April. The influence of geopolitical factors and uncertainty is emphasized, as well as persistently high energy prices and their notable fluctuations.

Separately, it was noted that the Bank will continue its tight monetary policy until price stability is achieved. It is also stated that the adopted stance will strengthen the disinflation process through exchange rate and expectations channels.