CBI Says Striving to Cut Interbank Rates

The Central Bank of Iran trying to reduce interbank interest rates in the hope of realizing its inflation target, the governor Abdolnasser Hemmati said. 
An inflation target of ±22% has been set by the CBI for the first fiscal quarter (March 20-June 21- 2021). 
Speaking at state TV late on Sunday, Hemmati said the interbank rate must be cut to 18% from the present 20%.  
He said decline in interbank rate is essential to realize the inflation target. "When an inflation target is set, it means that the central bank must consider some issues. One is the interbank interest rate that has to cut to around 18%," he was quoted as saying by IBENA, the news agency affiliated to the Monetary and Banking Research Institute.