FX.co ★ Turkey Cuts One-Week Repo Rate to 36% in October, Easing From September Peak

Turkey’s central bank lowered its key one-week repo rate to 36.00% in October 2026, down from 37.00% in September 2026, signaling a modest shift toward monetary easing after a period of exceptionally tight policy. The updated figure, released on 22 October 2026, marks the first reduction from the September level.

The move takes the one-week repo rate off its previous peak of 37.00%, set in September, and may indicate policymakers see scope to cautiously dial back borrowing costs while still maintaining a highly restrictive stance. With the policy rate remaining elevated in absolute terms, markets are likely to watch upcoming data and central bank communications closely for hints on whether this is the start of a gradual easing cycle or a one-off adjustment.