TCMB cuts interest rates for first time in nine months

The decision marked the central bank's first interest rate cut since January and was in line with the consensus forecast among economists.

In its policy statement, the CBRT highlighted that energy prices continue to pose upside risks to the inflation outlook. The committee emphasized that maintaining a tight monetary policy stance would strengthen the disinflation process and reaffirmed its commitment to achieving price stability. Looking ahead, markets will closely monitor upcoming inflation data and the central bank's final interest rate meeting of the year, scheduled for December.