The credit rating agency SP has lowered its year-end interest rate expectation for Turkey from 35% to 32.5%. However, there were no updates made to the USD/TRY forecast.

Standard & Poor’s (S&P), the credit rating agency, has revised its interest and exchange rate forecasts for emerging markets. The organization also adjusted its interest rate and USD/TRY forecasts for Turkey. According to S&P, the year-end interest rate forecast for Turkey in 2025 has been reduced from 35% to 32.5%. The interest rate expectations for 2026 and 2027 were recorded as 20% and 15%, respectively. S&P did not make any changes to the USD/TRY forecast.

For the year-end of 2025, S&P announced a USD/TRY forecast of 42. The forecast for USD/TRY in 2026 is 47, and for 2027 it is 52.