TCMBDecision of 23 July 2026
%37,00
One-week repo rate
Central Bank of the Republic of TürkiyeOfficial release ↗FINRATEX · RATES DESK
Read the rate map on one screen.
Compare major policy rates with the U.S. Treasury curve, then see how rates connect to bonds, currencies, equities and gold.
Five central banks, five reference rates
The instruments are not identical: each card names the specific rate used.
FEDDecision of 29 July 2026
%3,50–3,75
Federal funds target range
Federal ReserveOfficial release ↗ECBEffective since 17 June 2026
%2,25
Deposit facility rate
European Central BankOfficial release ↗BOEAs of 30 August 2026
%3,75
Bank Rate
Bank of EnglandOfficial release ↗BOJDecision of 31 July 2026
%1,00
Overnight call rate target, around
Bank of JapanOfficial release ↗U.S. TREASURY CURVE
Long maturities carry the higher yield
The official par curve for 28 August 2026 rises from 3.84% at one month to 5.22% at 30 years. It is a snapshot of indicative bid-side market quotations, not an executable price.
+39 bp10Y minus 2Y
+49 bp30Y minus 10Y
An upward curve means longer maturities offer more yield in this snapshot. The slope alone is not a recession signal or a policy-rate forecast.
What changes when yields move?
Bonds
When market yields rise, existing fixed-coupon bond prices generally fall; interest-rate sensitivity can increase with maturity.
Currencies
FX does not respond to rate gaps alone. Expected policy paths, inflation, risk premia and capital flows interact.
Equities
Higher discount rates can weigh on valuations, while banks and highly leveraged sectors may react differently.
Gold & commodities
Real yields and the dollar matter for gold; energy and industrial metals are more directly tied to the growth outlook.
Rate language, made clear
- Policy rate or market yield?
- A central bank sets or targets a short-term policy rate. Bond yields are formed in the market across different maturities.
- Why do bond prices and yields move inversely?
- When new bonds offer a higher return, an existing fixed-coupon bond becomes less attractive unless its market price falls.
- Nominal or real yield?
- Nominal yield is the quoted rate. Real yield measures purchasing-power return after inflation, using either actual or expected inflation.