Macroeconomic indicators are important tools that reflect the general condition of economies. Indicators such as growth, inflation and unemployment are affected by different variables. On the other hand, interest rates are one of the most important variables affecting all macroeconomic indicators positively or negatively. Changes in interest rates deeply affect all financial markets and economic actors. Policy rate is at the level of 16.5 percent, average interest rate of commercial loans is at the level of 20.39 percent, and average deposit interest rate is at the level of 16.63 percent in Turkey as of 13 September 2019. As LIBOR will be terminated in 2021 year end, countries have been conducting efforts to launch national reference interest rates. In Turkey, although there are a variety of interest rate types such as TRLIBOR, policy rate, loan interest, deposit interest, bonds-bill interest, there is not a reference interest rate to be calculated based on transactions made in market. In order to eliminate this deficiency and preparation for the period after LIBOR, TLREF has been started to be announced by Borsa Istanbul (BIST) on 06.17.2019. The first TLREF was launched as 24.82 percent and TLREF has become 16.19 percent on 09.13.2019. TLREF is a reference interest rate which reflects market conditions and has depth when taking into consideration the level of policy rate, commercial credits interest rate and other interest rates types. In the forthcoming period, national reference interest rate characteristic of TLREF will be strengthened with the introduction of TLREF-based financial products by financial institutions.