İş Bankası CEO: Support for Inflation Program Continues

İş Bankası General Manager Hakan Aran clarified his recent comments regarding the national economic strategy, emphasizing his unwavering support for the fight against inflation. Following a period of public debate, Aran stated that his remarks were taken out of context and reiterated that “inflation is the mother of all evils.” Rather than abandoning the current program, he advocated for its periodic revision to align with changing economic conditions.

Inflation Program: Clarifying the “27% Inflation” Forecast

The controversy stemmed from Aran’s earlier statement that, without adjustments, inflation might stagnate at high levels. He clarified this stance by highlighting the need for proactive management:

• The Forecast: Aran noted that if the program is not revised to reflect current market realities, the best-case inflation scenario would be 27%.

• The Intent: He emphasized that identifying a potential plateau is not a call to give up, but an invitation to discuss necessary policy updates to push the rate lower.

• The Quote: “If we see where inflation is headed, shouldn’t we discuss a revision? I never said we should give up on the struggle.”

Support for the Economic Team

In a display of solidarity, Aran expressed deep regret over any friction his comments may have caused between himself and the nation’s top economic leadership. He praised the “self-sacrificing” work of the Minister of Treasury and Finance, Mehmet Şimşek, and the Central Bank Governor.

• Unity: He described the collaboration among the banking sector, the real sector, and the government as a collective effort spanning three and a half years.

• Defending the Actors: Aran criticized the ease with which public figures are “worn down” in political debates, noting that those leading the program work tirelessly, often at great personal sacrifice.

• A Call for Healthy Debate: He urged a culture in which economic topics can be discussed strictly on their merits without undermining the individuals involved. “The lack of a proper ground for discussion actually harms the economy,” Aran warned.

The Road Ahead for 2026

As the economic crisis in Türkiye continues to be the primary focus of the financial sector, Hakan Aran’s comments suggest that the banking industry is seeking a “fine-tuned” approach as it moves through the second half of 2026. While fiscal discipline and high interest rates remain the backbone of the current policy, the call for “revision” hints at the need for more nuanced measures to support the real sector while maintaining downward pressure on prices.

Source: ekonomim