Inflation falls below 30 percent for first time in almost five years, but central bank stays cautious

Türkiye's annual inflation fell to 29.73 percent in September, below 30 percent for the first time in almost five years, down from 31.51 percent in August. Central bank governor Fatih Karahan said weaker domestic demand is driving the decline, but that inflation expectations have not improved as much as the bank forecast, which is why it is staying cautious. The benchmark rate remains at 37 percent, and analysts expect a possible cut at the October 22 meeting.

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