Iran's CB Monetary Policy Is Evolving

The Central Bank of Iran said it will implement more aspects of open market operation that involves regulating the borrowing of lenders from the CBI by obliging them to put up enough collateral when seeking funds. 
Lenders can put their excess financial resources in overnight deposits with banks at 10%, the CBI said on its website. In addition, lenders in need of liquidity will have to keep collateral with the CBI to borrow at 22%. 
The CBI says this will create the interest rate corridor (IRC), which is pivotal to the CBI’s plan to target inflation at a fixed rate of 22% for the current fiscal year that ends in March 2021.