Central Bank raised rediscount interest rates by 500 basis points

The Central Bank of the Republic of Türkiye (CBRT) raised the discount and advance interest rates to be applied in rediscount transactions by 500 basis points.

According to the announcement published in the Official Gazette, the discount interest rate to be applied in rediscount transactions against bills with a maximum of 3 months to maturity was set at 40.75 percent per year, while the interest rate to be applied in advance transactions was set at 41.75 percent per year.

Since November 1, 2023, the rate was 35.75 percent for rediscount transactions and 36.75 percent for advance transactions.

The interest rates came into effect as of today.