Interbank Rates Set at 12%

The Central Bank of Iran said Wednesday that it would set the cap on interest rates for interbank deposits at 12%, up from the previous 10%.
In a press release on its website, the CBI said the decision was made to narrow the interest rate spread in the interest rate corridor (IRC) and will come into force on June 27.
The development is in line with CBI monetary policy to control inflation through open market operations and the IRC.