Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
A sweeping operation targeting illegal online gambling and money laundering networks led to the detention of 128 people across 21 provinces on May 14, including polarizing media figure Rasim Ozan Kütahyalı and two senior executives from İş Bank, one of Turkey's largest private banks.
Hakan Aran, head of İş Bank, the country’s largest private lender, said they expect Turkey’s annual inflation to drop to 29% by the end of 2025, with interest rates falling to 35%. Aran shared his predictions regarding the economic normalization process at a press conference. According to Aran, “we may see monthly inflation rates drop below 1% as the normalization process begins in May 2026.”