Hemmati: A supervisory package has been drawn up for bank imbalances; goal is curbing inflation without recession

Abdolnaser Hemmati, governor of the Central Bank of Iran, said that despite intensified international pressure and financial restrictions, management of the foreign exchange market and the supply chain has proceeded without any disruption to imports and supply of essential goods, medicine and medical supplies. His remarks were released by the central bank's public relations office on Sunday, 26 July 2026.

He described the bank's main objective as controlling inflation and inflation expectations while simultaneously avoiding recession and negative economic growth, adding that support for the productive sector must be directed and must not expand the monetary base.

Hemmati identified imbalances at some banks and credit institutions as one factor feeding inflation, and said the central bank has drawn up a comprehensive package of supervisory and disciplinary measures to bring the situation under control. Avoiding shock therapy, reforming the central bank's relationship with the banking network, preventing liquidity growth, issuing short-term foreign currency bonds and regular control of bank balance sheets were among the other points raised.