The ordinary November meeting of the Istanbul Chamber of Industry (ICI) Assembly was held in the Odakule Fazıl Zobu Assembly Hall, with the main agenda “The Importance of Central Bank Policies for Our Industry, Our Production Life, and Financial Stability”. Fatih Karahan, Governor of the Central Bank of the Republic of Turkey (CBRT), attended as a guest and made evaluations regarding the agenda, hosted by Erdal Bahçıvan, Chairman of the ISO Board of Directors, and also attended by Ömer Karadeniz, Chairman of the Board of Directors of the Plastics Industrialists Federation (PLASFED).
CBRT Governor Fatih Karahan stated that the disinflation process is continuing and that the target is to reduce inflation to 21 percent by the end of 2025. Karahan emphasized that the tight stance in monetary policy will be maintained to ensure the continuation of disinflation.
Karahan stated that preliminary indicators obtained from the retail payment system for November indicated that monthly rent inflation would slow down in the last quarter. Karahan said that their resolute stance in monetary policy would continue to reduce the main trend of monthly inflation through rebalancing in domestic demand, real appreciation in the Turkish lira, and an improvement in inflation expectations, and emphasized that the increasing coordination of fiscal policy would also make a significant contribution to the disinflation process.
BAHÇIVAN: “INFLATION SHOWS RESISTANCE”
In his speech regarding the assembly agenda, Erdal Bahçıvan, Chairman of the ISO Board of Directors, stated that the Central Bank had very clearly set a target to reduce inflation, but there was still resistance in turning inflation expectations positive. Bahçıvan, pointing out that the improvement in the main trend was not at the desired level, said, “Today, we are going through a very serious and valuable process in overcoming the problems experienced in the economy with a rational roadmap. Every day has value for everyone. We must not lose discipline here.”
KARADENİZ EXPLAINED THE PROBLEMS OF THE INDUSTRIALISTS
In his speech at ISO, PLASFED President Ömer Karadeniz stated that Turkish industrialists have recently experienced considerable difficulty in accessing finance and that increasing costs have created serious problems. Karadeniz noted that producers are struggling to find financing for projects, and consumers are struggling to access credit to purchase products, stating that public authorities should take measures regarding this issue.
Karadeniz, drawing attention to the money accumulated in Currency Protected Deposits shifting to real estate investments, said, “With this money turning into investment and thus production, our industry will be the winner.” The head of the umbrella organization PLASFED, also touching upon the topic of interest rates that everyone is curious about, stated that they had received signals that there would be a gradual interest rate reduction in the coming months.
This content has been translated using artificial intelligence technology.