Decline in Deposit Interest Rates Continues While Loan Rates Show a Volatile Trend

According to Central Bank data, the average 1-3 month TRY deposit interest rate fell to 37.3% as of September 4, dropping to its lowest level since 2023. Meanwhile, a volatile outlook prevailed in loan rates, with moderate increases recorded in consumer and commercial loan rates.

Decline in Deposit Interest Rates

According to Central Bank data, the average 1-3 month TRY deposit interest rate dropped to 37.3% as of September 4. This rate was recorded as the lowest level seen since 2023.

Changes in Loan Interest Rates

Despite the decline in deposit interest rates, a different trend was observed on the retail and commercial loan side. Consumer loan interest rates rose to the 49.8% level.

Commercial loan interest rates, which had climbed up to 47.7% last year, recently showed another increase and reached the 40.8% level.

Central Bank Steps

The CBRT resumed one-week repo auctions as of August 23, having paused them since early March. The Central Bank's overnight lending rate stands at 40%.

Global Markets and Fed Expectations

Global markets focused on the decisions to be made by the US Federal Reserve (Fed). The Fed's interest rate decisions and the messages to be given after the meeting are of great importance for the direction of the markets.