JPMorgan sees Turkey central bank lift interest rates to 40% imminently

LONDON - Investment bank JPMorgan said on Friday that Turkey's central bank was likely to hike its key interest rate to 40% and could even do so before its next planned meeting in June following the latest bout of politically-driven market turbulence.

"Rising political risks come at an unhelpful time for the lira," JPMorgan analysts said in a research note.

"We now expect the CBRT (Turkish central bank) to hike its one-week repo rate to 40%, from the current 37%, at the June 11 MPC meeting, or potentially earlier."

(Reporting by Marc Jones, editing by Karin Strohecker)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published May 22, 2026 at 4:20 AM.