The Central Bank of the Republic of Türkiye kept the one-week repo rate at 37% on 10 September 2026. It also left the overnight lending rate at 40% and overnight borrowing rate at 35.5%. The bank said the underlying inflation trend was easing but high energy prices linked to geopolitical developments created upside risk. For international investors, the decision preserves a tight monetary stance; it does not fix commercial deposit, loan, mortgage or exchange rates at the same level.
All three official rates were unchanged
The one-week repo policy rate remains 37%, the central bank's overnight lending rate 40%, and its overnight borrowing rate 35.5%. These are TCMB policy and liquidity rates. A retail bank adds its own funding cost, maturity, customer risk, fees and commercial margin when quoting a deposit or loan, so a 37% policy rate is not a 37% mortgage or savings offer.
Domestic demand remained weak
The Monetary Policy Committee said recent inflation readings and leading indicators pointed to a lower underlying trend despite monthly volatility. Data on economic activity and limited domestic pass-through from supply shocks confirmed weak demand. That assessment is a nationwide macro signal, not evidence that every city, industry or household is contracting.
Energy prices kept the inflation risk tilted upward
The TCMB highlighted high energy prices caused by geopolitical developments and said it would monitor their cost, activity and expectations channels. Imported energy can affect transport, utilities and production costs, but the timing and size of pass-through are uncertain. The release does not provide a new inflation number, fuel forecast or exchange-rate target.
The bank retained room to tighten
The committee said decisions would remain meeting-by-meeting, data-driven and cautious, and that policy would be tightened if the inflation outlook deteriorated significantly and persistently. It also left open additional macroprudential measures if credit or deposit markets diverge from expectations. Holding rates today therefore is not a promise that the next decision will also be a hold.
What investors and property buyers should check
Compare date-specific bank deposit and credit offers on an annualised basis, including tax, fees, maturity and early-exit terms. Foreign-currency investors should separate nominal lira yield from exchange-rate risk and inflation. Property buyers should obtain an actual mortgage quote and calculate total financing cost; the policy decision alone neither predicts the lira nor proves that home prices or rents will move in a particular direction. The meeting summary is due within five business days.