View monthly updates and historical trends for Turkey 10-Year Government Bond Interest Rate. Source: Eurostat. Track economic data with YCharts analytics.

Turkey Long-Term Interest Rate: Government Bonds data was reported at 21.755 % in Dec 2026. This stayed constant from the previous number of 21.755 % for Sep 2026. Turkey Long-Term Interest Rate: Government Bonds data is updated quarterly, averaging 12.984 % from Dec 2005 (Median) to Dec 2026, with 85 observations. The data reached an all-time high of 30.278 % in Jun 2024 and a record low of 6.312 % in Mar 2013. Turkey Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Turkey – Table TR.OECD.EO: Interest Rate: Forecast: OECD Member: Quarterly. IRL - Long-term interest rate on government bonds; Turkey Government Benchmark Bid Yield 5 Years

Turkey Government Bond Yield: Primary Market: 1 Year data was reported at 57.650 % pa in Apr 2025. This records an increase from the previous number of 43.970 % pa for Jan 2025. Turkey Government Bond Yield: Primary Market: 1 Year data is updated monthly, averaging 13.810 % pa from Jan 2006 (Median) to Apr 2025, with 161 observations. The data reached an all-time high of 57.650 % pa in Apr 2025 and a record low of 5.070 % pa in May 2013. Turkey Government Bond Yield: Primary Market: 1 Year data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.M011: Government Bond Yield: Primary Market: TRY Denominated Fixed Coupon.

As of December 30, 2024, ** economies reported a negative value for their ten year minus two year government bond yield spread: Ukraine with a negative spread of ***** percent; Turkey, with a negative spread of 1332 percent; Nigeria with **** percent; and Russia with **** percent. At this time, almost all long-term debt for major economies was generating positive yields, with only the most stable European countries seeing smaller values. Why is an inverted yield curve important? Often called an inverted yield curve or negative yield curve, a situation where short term debt has a higher yield than long term debt is considered a main indicator of an impending recession. Essentially, this situation reflects an underlying belief among a majority of investors that short term interest rates are about to fall, with the lowering of interest rates being the orthodox fiscal response to a recession. Therefore, investors purchase safe government debt at today's higher interest rate, driving down the yield on long term debt. In the United States, an inverted yield curve for an extended period preceded (almost) all recent recessions. The exception to this is the economic downturn caused by the coronavirus (COVID-19) pandemic – however, the U.S. ten minus two year spread still came very close to negative territory in mid-2019. Bond yields and the coronavirus pandemic The onset of the coronavirus saw stock markets around the world crash in March 2020. This had an effect on bond markets, with the yield of both long term government debt and short term government debt falling dramatically at this time – reaching negative territory in many countries. With stock values collapsing, many investors placed their money in government debt – which guarantees both a regular interest payment and stable underlying value - in contrast to falling share prices. This led to many investors paying an amount for bonds on the market that was higher than the overall return for the duration of the bond (which is what is signified by a negative yield). However, the calculus is that the small loss taken on stable bonds is less that the losses likely to occur on the market. Moreover, if conditions continue to deteriorate, the bonds may be sold on at an even higher price, partly offsetting the losses from the negative yield.

This paper revisits the notion of a regulatory premium on certain assets. Central banks impose specific requirements on the types of bonds eligible for holding as collateral for monetary policy operations or lending facilities. In line with the predictions of the preferred-habitat view, meeting the policy requirements can result in certain bonds holding a premium compared to similar bonds that fail to meet the eligibility criteria.The Central Bank of Türkiye introduced a new monetary policy framework requiring Turkish banks to maintain long-term fixed rate domestic currency denominated sovereign bonds in blocked accounts against specific conditions. In this paper, we analyze how the so-called bond maintenance requirement affects the pricing in the bond market. Our findings indicate that the policy resulted in a significant decline in yields for eligible bonds, and it has varying effects along the sovereign bond yield curve. We document that if there had been no policy introduction, the long end of the sovereign bond yield curve would have been much steeper. Then, we observe that the eligibility discount has a temporary nature, and the yield for an eligible bond increases immediately when it switches to a non-eligible status. Next, we show that there is a non-linear relationship between eligibility discount and time-to-maturity for an eligible bond. Initially, the discount increases as the time-to-maturity lengthens, reaching a peak level. Beyond this point, it starts to decline for bonds in the longest time-to-maturity category. Finally, we provide preliminary findings that the policy has significant spillovers in financial markets: causing an increase in interest rate hedging costs, a rise in deposit rates and segmentation in bond pricing.

Os dados de Rendimento de títulos do governo de curto prazo da Turquia foram registrados em 45.25 % pa em 2024-12. Este registro de uma queda com relação aos números anteriores de 47.96 % pa em 2024-11. Os dados de Rendimento de títulos do governo de curto prazo da Turquia são atualizados por mês, com uma média de 13.53 % pa em 2006-01 até 2024-12, com 159 observações. Os dados alcançaram um alto recorde de 50.52 % pa em 2024-05 e um baixo recorde de 5.07 % pa em 2013-05. Os dados de Rendimento de títulos do governo de curto prazo da Turquia permanecem com status ativo na CEIC e são reportados pela fonte: CEIC Data. Os dados são classificados sob o World Trend Plus’ Global Economic Monitor – Table: Short Term Government Bond Yield: Monthly.

Key information about Turkey Policy Rate

• Turkey cash rate (Policy Rate: Month End: Repo Rate: 1 Week) was set at 39.50 % pa in Nov 2025, compared with 39.50 % pa in the previous Oct 2025.
• Turkey Policy Rate averaged 8.25 % pa and is updated monthly, available from Jun 1996 to Nov 2025.
• The data reached an all-time high of 150.16 % pa in Dec 1999 and a record low of 4.50 % pa in Dec 2013.