> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Central Bank of Türkiye holds policy rate at 46% following April tightening
- URL: https://www.theglobalbanker.com/central-bank-of-turkiye-holds-policy-rate-at-46-following-april-tightening/
- Published: 2025-06-19T14:49:00.000Z
- Updated: 2026-09-29T10:59:28.000Z
- Description: The CBRT kept its one-week repo rate at 46% on 19 June 2025, saying the underlying trend of inflation declined in May and that its tight monetary stance would be maintained.
- Author: TGB Editorial Team
- Tags: Central Banks, Europe, #archive

The Central Bank of the Republic of Türkiye (CBRT) kept its policy rate, the one-week repo auction rate, unchanged at 46% on 19 June 2025\. The Monetary Policy Committee, chaired by Governor Yaşar Fatih Karahan, also held the overnight lending rate at 49% and the overnight borrowing rate at 44.5%.

The 46% level was set at the committee's scheduled meeting on 17 April 2025, when it raised the policy rate by 350 basis points from 42.5%. That followed an interim meeting on 20 March 2025, convened to assess financial market developments, at which the committee raised the overnight lending rate to 46% while keeping the policy rate at 42.5%, and introduced Turkish lira and foreign-exchange liquidity measures to limit market volatility.

#### DISINFLATION OUTLOOK

In its June statement, the committee said the underlying trend of inflation declined in May and that leading indicators suggested the decline was continuing in June. Data for the second quarter pointed to a slowdown in domestic demand. The committee said it was closely monitoring the potential effects of geopolitical developments and rising protectionism in global trade on the disinflation process, and that inflation expectations and pricing behaviour continued to pose risks.

The CBRT said its tight monetary stance was strengthening the disinflation process through moderation in domestic demand, real appreciation of the Turkish lira and improvement in inflation expectations, and that increased coordination of fiscal policy would also contribute significantly.

#### GUIDANCE UNCHANGED

“The tight monetary stance will be maintained until price stability is achieved via a sustained decline in inflation,” the committee said. It added that it would adjust the policy rate prudently on a meeting-by-meeting basis with a focus on the inflation outlook, and that all monetary policy tools would be used effectively in case a significant and persistent deterioration in inflation was foreseen.

The central bank reiterated its aim of reaching the 5% inflation target in the medium term.